NEW YORK, Oct. 15, 2015 (GLOBE NEWSWIRE) -- Hilco Streambank has been retained as the exclusive agent to sell the intellectual property and related assets of the Morgan Collection, Inc. (the "Company"). The assets are being sold through a general assignment for the benefit of creditors proceeding pending in New York. Available for purchase are the Company's trademarks, domain names, copyrighted designs and utility patents for the Company's proprietary BedSok® products.
Founded in 1999, Andrew Morgan Collection® was an innovative textile design and manufacturing company. The Company's core collection included throws, blankets, bed scarves, bed wraps and other luxury accessories. Its patented line of removable box spring covers called the BedSok® served as the company's flagship product. To complement the BedSok® the company also created ChairSok™ and HeadSok™ as a part of the ModSok® product line serving as slipcovers for lounge, dining and bedroom accessories. This strategy allowed the Andrew Morgan Collection® brand to develop a strong presence in luxury hotels such as The Ritz Carlton, The Four Seasons, Fairmont Raffles, and Waldorf Astoria.
"The Andrew Morgan Collection® presents a unique opportunity to establish an immediate presence in the bedding space for both retail and hospitality" said Jack Hazan, EVP of Hilco Streambank. "The copyrighted design library adds value to the deal, enabling the buyer to quickly manufacture and sell products to large bedding retailers. Further, the patented BedSok® product will give buyers a differentiated offering to open doors in hospitality and at retail." Mr. Hazan added.
Hilco Streambank's recent IP and brand dispositions include dELiA*s, Dots, Naartjie Kids and the RadioShack Corporation.
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years, Hilco Streambank has become a leader in the IP valuation and disposition market, representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.
Parties interested in learning more about the assets and the sale should contact Hilco Streambank directly using the contact information provided below:
David Peress
Executive Vice President
Hilco Streambank
(781) 471-1239
dperess@hilcoglobal.com
Jack Hazan
Executive Vice President
212-610-5633
jhazan@hilcoglobal.com
Michael Manopla
Associate
Hilco Streambank
(212) 610-5641
mmanopla@hilcoglobal.com