Toadfish, the Charleston, SC-based lifestyle brand, is being auctioned off by Hilco Streambank, including its intellectual property, social media accounts with more than 225,000 followers, 980,000 customer files and about $1.6 million of inventory.
The assets are offered pursuant to Article 9 of the Uniform Commercial Code on behalf of the secured lender. The assets will be sold free and clear of the secured lender’s lien and any subordinate security interests in the assets.
Bids are due on or before May 2 at 12:00 p.m. EST, and an auction will be conducted on May 4 at 12:00 p.m. EST.
In a statement, Hilco said Toadfish sales more than quadrupled between 2019 and 2021 as consumers embraced outdoor activities such as fishing, leading to peak sales of over $21 million in 2021.
Hilco’s Senior Vice President, Richelle Kalnit, said, “Toadfish is a brand that embodies the coastal outdoor ethos and resonates deeply with its loyal customers. The brand has a diversified distribution network, generating revenue across e-commerce through the Toadfish.com e-commerce site and Amazon, as well as through valuable wholesale partners, including big box retailers and specialty shops. The brand excels in categories which are particularly appealing to the Amazon shopper, evidenced by the 4+ stars on Amazon given to numerous products, many of which have thousands of reviews.”