Court Approves Procedures for Sale of Fortunoff Intellectual Property by CONSOR

CONSOR Intellectual Asset Management was retained by Fortunoff to assist in the marketing and sale of the company's intellectual property assets. On May 12, 2009, Fortunoff, in the Bankruptcy Court for the Southern District of New York, obtained approval of procedures for the sale of the Company's IP assets. The approved sale procedures include an auction, which is scheduled to be held on June 18th at the offices of Sidley Austin, LLP, 787 Seventh Avenue, New York, NY 10019. A bid deadline of June 16th, 2009 has been set, with a scheduled sale approval hearing on June 22, 2009.

We are very pleased to be retained by Fortunoff

Fortunoff is a bastion in the luxury home goods segment. We are confident that the marketplace recognizes the heritage and longevity of the Fortunoff brand, and that the goodwill amassed over the last 85+ years will ultimately translate into a sizable recovery for the estate.

New York, NY (Vocus/PRWEB ) May 14, 2009 -- CONSOR Intellectual Asset Management was retained by Fortunoff to assist in the marketing and sale of the company's intellectual property assets. On May 12, 2009, Fortunoff, in the Bankruptcy Court for the Southern District of New York, obtained approval of procedures for the sale of the Company's IP assets. (Case No. 09-10497 (RDD) before the US Bankruptcy Court for the

CONSOR

Southern District of New York) The approved sale procedures include an auction, which is scheduled to be held on June 18th at the offices of Sidley Austin, LLP, 787 Seventh Avenue, New York, NY 10019. A bid deadline of June 16th, 2009 has been set, with a scheduled sale approval hearing on June 22, 2009.

Fortunoff`s intellectual asset portfolio for sale includes certain trademarks, domain names, and customer databases. In addition, CONSOR has identified additional value added elements such as the bridal registry, exclusive jewelry designs, 1-800-Fortunoff, training materials, knowledge databases and IT systems. The primary IP assets for sale are:
Worldwide Trademark Portfolio: Over 70 registered trademarks including, Fortunoff, The Source, Prime Time, Oxford Hall, FSS and Avignon.

Domain Names: Over 75 International domain names including, Fortunoff.com, fortunoffbrides.com and fortunoffjewelry.com.

Toll Free Numbers: 1-800-FORTUNOFF / 1-866-FORTUNOFF / 1-888-FORTUNOFF
Customer Database: Over 750,000 customer names, many with detailed purchase history in jewelry, home furnishings and bridal registries.

IT Assets:

Fortunoff.com website- including copyrighted design layout and source code Customer Relationship Management (CRM) System Fortunoff Intranet - Complete training materials, style guides and other critical marketing/training assets DCWizard Warehousing System - Using radio frequency technology, this system provides real-time inventory management and distribution. Exclusive Jewelry Designs: Petra collection (approximately 25 designs) House 533 collection (approximately 1,000 designs) House 511 collection (approximately 500 designs) House 513 collection (approximately 2,000 designs) Avignon - Branded Swiss watches Fortunoff Branded Products: The Source grills Window treatments Dinnerware Towels

On this assignment, CONSOR will work alongside Fortunoff 's financial advisor, Zolfo Cooper, in the auction and sale of the assets as contemplated under the sale procedures. CONSOR's retention was approved by the bankruptcy court on April 17, 2009.

"We are very pleased to be retained by Fortunoff," said Daryl Martin, Executive Vice President, CONSOR. "Fortunoff is a bastion in the luxury home goods segment. We are confident that the marketplace recognizes the heritage and longevity of the Fortunoff brand, and that the goodwill amassed over the last 85+ years will ultimately translate into a sizable recovery for the estate."

About CONSOR:
CONSOR is recognized as an industry leader in the valuation, licensing and disposition of all forms of intellectual property and intangible assets. CONSOR professionals have extensive experience in protecting, preserving and maximizing the value of intellectual property and intangible assets in distressed situations. Over the years CONSOR has valued and/or disposed of the intellectual property portfolios for major retailers in bankruptcy including Barneys, Montgomery Wards and Service Merchandise, among others. Recently, CONSOR has managed multi-million dollar dispositions of the intellectual property portfolios for Tower Records and Collins & Aikman.

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