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February 13, 2016 3:19 PM ET

Specialty Retail

Company Overview of New Dots, LLC

Company Overview

New Dots, LLC operates a chain of women’s apparel and accessories stores in the Midwest, East, and Southeast. It offers various products for juniors, such as denims, tops, dresses, bottoms, intimates, and jackets; and accessories, such as necklaces, earrings, rings and bracelets, belts and handbags, and shoes. The company also provides casual, active, club, career, and intimate clothing. It offers its products for women in the age group of 25 to 35 who are fashion and price conscious. The company serves customers through its stores located primarily in high traffic power centers, and regional and community shopping centers, as well as online. New Dots, LLC was formerly known as Dots, LLC. Th...

3606 Blanding Boulevard

Jacksonville, FL 32210

United States

Founded in 1987

Phone:

904-404-6926

Key Executives for New Dots, LLC

President
Chief Executive Officer of Irving Place Capital and Senior Managing Director of Irving Place Capital
Age: 63
Compensation as of Fiscal Year 2015.

New Dots, LLC Key Developments

Motion for Intellectual Property Asset Sale Approved for Dots, LLC

The US Bankruptcy Court approved the sale of certain assets of Dots, LLC on May 22, 2014. As per the order, debtor has been authorized to sell intellectual property assets to New Dots LLC for $0.33 million, as per the agreement dated May 20, 2014. Buyer has been declared as highest and best bidder for the assets under the auction held on May 9, 2014. Buyer has paid deposit of 10% of the purchase price ($0.03 million) upon execution of agreement. The transaction is expected to close by June 13, 2014. Joel C. Shapiro of Blank Rome LLP acted as legal counsel for the buyer.

Notice of Selection of Stalking Horse Bidder, Extension of Bid Deadline, and Rescheduling of Auction Filed by Dots, LLC

Dots, LLC filed a notice of selection of stalking horse bidder, extension of bid deadline, and rescheduling of auction in the US Bankruptcy Court on May 6, 2014. As per the notice filled, Rainbow Southeast Leasing, Inc. will acquire the IP assets of Dots, LLC for $0.25 million. The asset purchase agreement was signed on May 6, 2014. The minimum initial overbid at the Auction shall be in an amount not less than $0.3 million. Successive overbids shall be in increments of $0.01 million or such lesser amount as the Debtors, in consultation with the Lenders and the Committee, determine. To qualify as a qualified bidder, interested parties should submit their bids by May 7, 2014. If the debtor receives any qualified bids then it would hold an auction for its assets on May 9, 2014.

Bidding Procedure Approved for Dots, LLC

The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of certain assets of Dots, LLC on April 21, 2014. The debtors are seeking to sell the IP Assets at an auction in whole to a single bidder or in part to multiple bidders, with each winning bidder for the relevant IP Assets executing a purchase agreement. To qualify as a qualified bidder, interested parties should submit their bids by May 6, 2014. If the debtor receives any qualified bids then it would hold an auction for its assets on May 8, 2014. The stalking horse bidder would be entitled to an expense reimbursement of $0.03 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for May 13, 2014.

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