a21 has announced that the bankruptcy court of Jacksonville, Fla., has set the dates for bid submissions and asset auction. Initial bids are due on Monday, Jan. 12, and the auction will take place on the morning of the following Friday, Jan. 19.
Pursuant to a21’s petition for Chapter 11 reorganization, the company intends to sell the assets of SuperStock to Toronto-based Masterfile, though the deal remains subject to higher bids at the auction. ArtSelect assets will be sold off in a similar fashion.
a21-owned brands are operating under court supervision. After the auction, the bankruptcy court will approve the company’s disclosure statement and plan of liquidation. Additional information on the bankruptcy case is available at a21’s Web site.