Last year
, three years after CBGB founder Hilly Kristal died, a bankruptcy judge ruled that the late Kristal’s estate is the rightful owner of the club’s assets, including its name. At the time, the estate already said they were trying to find potential buyers, and now Bloomberg News reports that they'll be auctioning it off.
The brand will be sold via Streambank LLC, who were hired by the estate; they say, “We’re expecting it to trade well in excess of a couple million. The brand still resonates worldwide and could be used for new opportunities in live clubs, apparel and interactive media."
So where will we be seeing the "CBGB OMFUG" name in the future? Half of the punk generation is currently cringing in their graves at the possibilities. Shhh, sleep now, listen to some Blondie:
