City Sports Sells Name

City Sports Inc. (Boston) has sold its intellectual property, including the City Sports name, to Soccer Post (Eatontown, N.J.) for $400,000. The company plans to open retail stores under the City Sports name next year.

City Sports will also liquidate all of its 26 stores after filing for Chapter 11 Bankruptcy last month. An auction was held the first week of November after the company was unable to find a buyer for the chain by Oct. 30. Liquidation firm Hilco Global (Northbrook, Ill.) and Gordon Brothers Retail Partners (Boston) won the auction to hold going-out-of-business sales for the company’s remaining stores.

The sales have been presented to a bankruptcy judge for final approval, reports The Wall Street Journal.