Candy Club, once a recognizable name in the gourmet sweets business, is about to see its assets go up for public sale. On February 28, 2025, GemCap Solutions, LLC will hold a telephonic auction to liquidate nearly everything under the Candy Club umbrella. From inventory and customer lists to trademarks and domain names, a wide range of property is on the table for the highest bidder.
The sale comes as part of a foreclosure process under the Uniform Commercial Code, allowing GemCap, acting on behalf of its secured lender, to recoup outstanding debts. The auction will be open to pre-qualified bidders, and the winning offer will walk away with more than just a few candy jars.
What’s on the Auction Block?
Bidders won’t just be vying for leftover inventory. The sale includes some valuable business assets:
- Inventory – Any remaining stock that hasn’t been sold off.
- Accounts Receivable – Outstanding invoices and payments owed to Candy Club.
- Intellectual Property – This includes patents, trademarks, the recognizable “Candy Club” brand name, and even the company’s domain names.
- Customer List – The buyer could gain access to Candy Club’s existing customer base.
- Trade Fixtures – Items used in operations, though machinery and equipment are not part of the sale.
All assets will be sold “as is” with no guarantees or warranties. Buyers will take ownership without any legal recourse against GemCap or its representatives.
Who Can Bid?
Not just anyone can dial in and throw out an offer. To get a seat at the (virtual) table, potential buyers need to meet some strict requirements:
- Sign a confidentiality agreement.
- Show proof of financial stability.
- Submit a completed purchase agreement in the form provided by GemCap.
- Make a deposit of 10% of their bid amount, which will be held in escrow.
Only those who clear these hurdles will receive access to the sale’s phone line and passcode.
How the Auction Will Work
The bidding process will move quickly. Assets may be sold individually, in group lots, or as a full package. The final decision will depend on what generates the highest return. After the sale wraps up, the winning bidder must pay in full via wire transfer.
GemCap retains the right to reject bids, cancel the sale, or even bid on the assets itself. Those hoping to land a bargain should come prepared—this won’t be a free-for-all.
Interested? Here’s Who to Contact
Anyone considering a bid should reach out for more details before the deadline. Michael Berens, Esq. and David Ellis are handling inquiries:
- Michael Berens ([email protected] | 530-304-6922)
- David Ellis ([email protected] | 310-494-1437)
With just a couple of weeks to go before the auction, interested parties will need to act fast.