Papyrus owner requests court approval to sell intellectual property

By Caroline Salls

Pittsburgh, March 18 – SFP Franchise Corp. – the owner of paper products retailer Papyrus – requested court approval of the bid procedures for the proposed sale of its intellectual property, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The company said the intellectual property being sold consists of trademarks, domain names, customer files and related transaction data, social media assets and internet protocol addresses.

Under the proposed procedures, bids are due by 5 p.m. ET on April 24.

An auction for all of the intellectual property or subsets of that property will be held on April 27.

The sale hearing is scheduled for April 30.

SFP is a Goodlettsville, Tenn.-based paper retailer. The company filed bankruptcy on Jan. 23 under Chapter 11 case number 20-10134.

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