PUBLIC NOTICE OF Delaware ABC Auction: Intellectual Property of smarTours, LLC

Auction Sale of Intellectual Property – smarTours

On February 12, 2025 (the “Petition Date”), the Assignee filed its Verified Petition for Assignment for the Benefit of Creditors (the “Petition”), attaching the General Assignment for the Benefit of Creditors.

On February 13, 2025, the Court entered the Order on Petition for Assignment for the Benefit of Creditors, asserting jurisdiction over the Petition pursuant to 10 Del. C. §7381, et seq.

By way of background, the predecessor at smarTours, LLC was a provider of direct-to-consumer, value-oriented travel experiences to a variety of domestic and global destinations, particularly focused on a “baby boomer” customer base. The Company offered both pre- packaged tours with pre-set departure dates for individual travelers and customized, private tours for twenty or more-person passenger groups. Over 200,000 passengers have traveled with the Company since its founding in 1996. The company struggled to remain solvent due to lower revenue streams and operational challenges.

The Assignee is seeking a buyer for the Assignor’s assets relating to the smarTours® registered trademark, social media accounts, and expansive customer and contact list. The Assets will be sold on a “as-is, where-is” basis. The Assignee is currently in discussions with several interested parties and conducting due diligence.

All interested parties wishing to make competitive offers for the Assets will need to submit a qualified bid to the Assignee by no later than 5:00 pm (prevailing Central time) on March 14, 2025, and contain the following: (i) information confirming that the qualified bidder (“Bidder”) has the financial capacity to consummate a transaction if selected as the successful bidder (“Successful Bidder”), (ii) ability to expeditiously consummate the transaction if selected as the Successful Bidder, (iii) a signed Mutual Confidentiality and Non-Disclosure Agreement, and (iii) ability to submit a deposit of no less than 10% of the bid. Assignee intends to sell the Purchased Assets to pursuant to execution of an acceptable Asset Purchase Agreement that embodies the conditions agreed to in the Term Sheet. The Assignee reserves the right to enter into an Asset Purchase Agreement (“APA”) with another party as the Assignee had determined to be valid.

Parties interested in the assets of smarTours, LLC are requested to contact Jack O’Brien ([email protected]) at (872) 264-7138 or Matthew Sorenson ([email protected]) at (213) 532-4549.

The Assignee is represented by Klehr Harrison Harvey Branzburg LLP; Richard Beck ([email protected]) or Sally Veghte ([email protected]) Telephone (302) 552-5503.

About DSI Assignments:
DSI Assignments specializes in providing experienced assignees to help businesses navigate financial distress. Operating within state laws, our team ensures transparent communication with creditors, manages stakeholder expectations, and negotiates with lenders and investors toward the maximal outcome. Led by Steven L. Victor and Matthew P. Sorenson, recognized experts in restructuring, bankruptcy, and assignments for the benefit of creditors (ABCs), DSI tailors each engagement to the unique needs of the business. ABCs offer an efficient alternative to bankruptcy, and our professionals are dedicated to maximizing value and creditor recoveries for stakeholders, including secured lenders, private equity and venture capital firms, principal of the distressed business, and boards of directors