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Auction Advisors to Auction Assets of Travel Light, Inc d/b/a G-RO on Behalf of Assignee

Auction Advisors to auction the Intellectual Property, Inventory & Other Assets of Innovative Luggage Manufacturer “Travel Light” d/b/a “G-RO” in an ABC.

In RE: Assignment for the Benefit of Creditors of Travel Light, Inc. in the Court of Chancery for the State of Delaware, commencing case number 2020-0429-PAF. Qualifying Bids and Deposits Due November 4, 2020 @ 1PM; Auction to be held November 5, 2020.

Background:

Travel Light was a designer, manufacturer and distributor of unique luggage and other travel accessories operating primarily under the brand name G-RO. The company had a celebrity following and served many of the fastest growing national retailers and brands. It peaked at sales of almost $5M when it implemented a successful Kickstarter campaign.
See: https://www.kickstarter.com/discover/advanced?ref=nav_search&term=g-ro.

Opportunity Overview:

On June 3, 2020, Travel Light assigned all of its assets of every kind and nature whatsoever to a court approved Assignee in an Assignment for the Benefit of Creditors. These assets are predominantly comprised of: (i) the patents associated with the innovative luggage product; (ii) the trademarks; and (iii) the inventory. These assets will be sold pursuant to a Court Order Free and Clear of liens and encumbrances. However, the inventory may be subject to a warehouseman’s lien.

Assets to be sold:

  1. Intellectual Property: Patents & Trademarks:
    • See “IP Spreadsheet” in the Due Diligence section (see link below to access) for list of 76 Patents and 9 International Trademarks
    • See “Product Brochure” in the Due Diligence section (see link below to access) for brochure that showcases the product line, highlights unique product & features and generally discusses the opportunity.
  2. Inventory: Luggage and Accessories:
    • Inventory is considered high-quality and is in new, undamaged, in-the-box condition. The inventory is contained in two warehouses: one in Tecate, MX and one in Baja, CA. See “Inventory” in the Due Diligence section (see link below to access) for a full inventory list per location details.

Participation:

To participate at the auction on November 5th, “Qualifying Bids” must be submitted by 1PM on November 4th. Qualifying Bids are offers of not less than $242,000 and must be made through the submission of a fully executed Asset Purchase Agreement (available for download on the Auction Advisors website) together with a 50% deposit into escrow. Please call Joshua Olshin @ 212-375-1222 ext 705 or email [email protected] for more details.

Please follow this link to enter the data room with a complete set of due diligence materials:
http://auctionadvisors.com/property-details/travel_light_239.


AuctionAdvisors - National Reach, Local Touch

About AuctionAdvisors

AuctionAdvisors, based in the New York metropolitan area, is a full-service real estate and business liquidation auction company. With strategically located offices around the country, AuctionAdvisors services clients in business liquidations and the disposition of real estate and real estate related assets. To learn more about AuctionAdvisors and the services that it offers, please visit http://auctionadvisors.com/.

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