WHITE RIVER JUNCTION, Vt. (BRAIN) — Liz Robert, the owner and CEO of Terry Bicycles, may make a bid to buy the troubled Vermont wool clothing brand Ibex, according to a report in Valley News, a local paper.
Ibex announced earlier this year it would stop sales to retailers, and then announced it was preparing to shut down.
According to Valley News, Robert is partnering with a Vermont private equity firm to try to buy Ibex’s assets in a bid to keep the business and its jobs in the state. Robert is also the former CEO of Vermont Teddy Bear.
Ibex’ owners have hired Hilco Streambank to auction the brand’s intellectual property. According to the Hilco Streambank listing for the assets, bids are due on Jan. 4 and the final closing would be Jan. 16.
“When I heard the company was imploding and the IP was up for sale, and I further understood there were folks from out of state that are interested in taking it over, I reached out to Vermont Works and other potential partners who could help put together a consortium to obtain financing and acquire the IP,” Robert said in an interview with Valley …read more