Hilco logo

Buyer review

hilcoglobal.com

Hilco and selling AI training data in a distressed sale

Hilco appraises and sells assets for distressed companies. Within its intangibles group it now markets enterprise data, source code and AI training material, and runs competitive sales for them.

If your company is in or near bankruptcy, Hilco is the kind of firm that may run the sale of your records.

Some buyers pay us a referral fee. It never changes your price or our score. How we make money.

AI Data Offers research deskChecked against our methodology Updated October 28, 2026 3 min read 3 sources
Pays companies
Set by auction or sale
Minimum size
Companies in distress
Time to payment
Follows the court or sale process
Our score
5.4 / 10

In this guide

Our score

5.4 / 10

For distressed sales
Pays companies
Set by auction or sale
Minimum size
Companies in distress
Regions
US and global
Time to payment
Follows the court or sale process
Exclusivity
Depends on the sale
Referral program
None published

What we like

  • Decades of experience selling intangible assets
  • Runs competitive sale processes
  • Owned by ORIX Corporation USA

Watch for

  • An advisor, not a buyer
  • Fees are not published
  • Built for distressed or court-run sales

01

Hilco at a glance

  • What it is

    Advisor and seller of intangible assets, not a data buyer

  • Data it names

    Workflow and operational datasets, codebases, technical docs, customer and transaction data

  • Nikola sale

    Nikola Chapter 11: $1.4M sale of IP covering software and analytics data, closed August 2025

  • RadioShack

    2015: hired by lenders to sell intangibles, customer data among them, through Hilco Streambank

  • Company

    Hilco Global, Northbrook, Illinois; subsidiary of ORIX Corporation USA

Figures are the buyer's own published claims unless a news source is named.

02

Who Hilco buys from

Hilco works with companies in distress, their lenders and the courts. It is not a program you apply to as a healthy business.

03

What Hilco pays

There is no price list. Hilco runs sale processes where bidders compete, which is how distressed data has drawn AI buyers: in the Spirit Airlines case, Google bid $10M and Mercor $7.5M, and micro1 later filed a $12.5M bid.

A live Hilco listing bundles source code and technical files with 53,712 engineering emails written between 2017 and 2024. AI data buyers look for precisely this sort of archive.

04

The contract terms

Terms depend on the sale, the court and the buyer. Hilco's own fee is set by its engagement; ask who pays it and how it is calculated before you sign.

05

Hilco's referral program

Hilco publishes no referral program for introducers.

06

Is Hilco a fit for your company?

Hilco fits a company in or approaching bankruptcy where lenders or a court will run the sale of assets. If you are closing on your own terms, a direct buyer or a wind-down service is usually simpler.

07

Six checks before you send Hilco anything

We run the same checks on every buyer we rank. They take an afternoon and they protect the one thing you cannot take back: the copy of your records.

  • Find the legal entity. A registered company name, an address and at least one named person. A Facebook form alone is not enough.
  • Get the offer and the contract in writing before any export. A sample agreement tells you more than a sales call.
  • Ask who strips personal data, how, and when. You should approve the method and see a sample before anything leaves your systems.
  • Ask where the data goes. Which AI companies receive it, whether you are told, and whether it can be resold.
  • Ask how everyone is paid. By you, by the buyer, or out of your deal. Referral fees are normal; hidden ones are not.
  • Get a second quote. Terms from at least one other buyer is the fastest way to know if an offer is fair.

FAQ

Questions, answered

Does Hilco buy data?

No. It values and sells assets on behalf of companies, lenders and courts. Buyers bid in its processes.

Has Hilco sold company data before?

Yes. Nikola's IP, analytics data included, went for $1.4M through Hilco, and in RadioShack's 2015 bankruptcy it sold intangibles that included customer data.

How is Hilco paid?

Through its engagement fee. Ask how it is calculated and who pays it.

Get offers from buyers that fit

Tell us about your company once. We introduce you to the buyers most likely to pay, and you choose who to talk to.

Keep reading

Sources

Every number on this page links back to one of these.

  1. 1Hilco: intangible assets practicehilcoglobal.com
  2. 2Hilco Global: abouthilcoglobal.com
  3. 3AI Weekly: micro1 files $12.5M Spirit bidaiweekly.co

Spot something wrong? See our corrections policy. Some buyers pay us a referral fee. How we make money.

See if you qualify

Free, 2 minutes, no files