Wait, what? The Art Van brand may not be dead after all.
Crain's Detroit Business reports that Gary Van Elslander, the former CEO of the furniture retailer founded by his father, is bidding to buy the company's name and trademark out of bankruptcy.
Kurt Nagl writes:
Any purchase would need to go through the bankruptcy approval process, expected to wrap up around the end of April. Van Elslander's bid was for less than $1 million. The exact amount was not disclosed but will eventually be made public as part of the bankruptcy proceeding records.
It's not clear what Van Elslander might intend to do with the brand name, or if he is bidding to stave off attempts to keep the brand alive by someone else.
So, to be clear, Van Elslander is not trying to buy the business -- the stores, the inventory -- but only its name and trademark. Doing so would prevent others from making it a "zombie brand," using the name to sell anything they wished.