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HilcoStreambank Announces Sale of Andrew Morgan Collection IP Assets

October 16, 2015, 07:16 AM
Filed Under: Home Products

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.

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.

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