Bidz.com Sells Colibri Bankruptcy Auction to Richline GroupApril 19, 09
Online jewelry retailer Bidz.com sold all the intellectual property, trademarks and tools that it acquired in the bankruptcy auction of the Colibri Group to Richline Group, Inc., wholly-owned subsidiary of Berkshire Hathaway Inc.
The sold assets are of Krementz, Van Dell, Shiman, Dolan & Bullock, Taylor Avedon, Angelite, Skal, Skalet, Magical Years, Little Miss Pride, Sideways, Darling Diamonds, Fingerprint Locket and others.
Bidz.com also agreed in principle to buy future close-outs from Richline on a non-exclusive basis, the company said Thursday.
Richline is a U.S. fine jewelry manufacturer and the largest importer of gold jewelry. The major brands comprising Richline's portfolio are Bel-Oro, Michael Anthony, Aurafin, AuraGem, Sardelli, Pace Designs, Prime Time, Alarama, ALA Casting, Gold Expressions, Town & Country Jewelry, and Baby Gold. The company manufactures and distributes precious metal jewelry products that are sold at thousands of outlets. The firm is a major worldwide manufacturer in the U.S., Italy, India, Israel, Turkey, Bolivia, China and the Dominican Republic.
Bidz.com acquired the assets, plus inventory, at the Colibri auction for $6 million in late March. Colibri, a manufacturer and marketer of century old heritage branded jewelry products, has been placed into receivership in January.