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Posted Date: 5/15/2008

Net Worth Solutions and Dreier LLP to Host Inaugural Panel on Buying and Selling Fashion Businesses

- Panel featuring prominent experts to be held June 12 in New York City -

New York, May 13, 2008
-- M&A advisory firm Net Worth Solutions, Inc., announced today that it will host a panel discussion with law firm Dreier LLP on the issues facing buyers and sellers of businesses in the fashion industry amidst today's challenging economic environment.

Titled "The Right Fit: Buying and Selling Fashion Businesses", this panel discussion for business owners, executives, equity investors and lenders will be held June 12, 2008 from 8:30 a.m. to 10:30 a.m. at Arno's Ristorante, 141 West 38th Street, New York. 

The discussion will be moderated by Dreier LLP partner Paul Traub, who is co-chair of the law firm's Bankruptcy and Corporate Reorganization Practice and a recognized leader in structuring and implementing strategic business transactions across a variety of industries. Mr. Traub has represented some of the largest general and specialty retailers in the United States and Canada, and significant interested parties, including Halston, Joan & David, Ellen Tracy, Weathervane, Wet Seal, Caribbean Joe, Domain Home, Levitz, Bombay Company, Linens'n Things, Zales, and Whitehall Jewelers.

"The fashion industry today presents unique challenges to buyers and sellers of businesses," Mr. Traub stated. "This event will offer valuable insights from professionals with a wide range of expertise in both the industry and in mergers, acquisitions and asset dispositions."

In addition to Mr. Traub, the distinguished panelists will include:

-Jack Hendler, President of Net Worth Solutions, Inc. (investment banker and M&A specialist);

-James Salter, President and Chief Executive Officer of Hilco Consumer Capital Corp.;

-William Sweedler, Founder and Chief Executive Officer of Windsong Brands;

-Nicholas DeMarco, Chief Operating Officer and Director of Active Brands International; and

-Steven R.Gursky, Esq., a Dreier LLP partner practicing in the areas of intellectual property and real estate.

"This is a highly active period for M&A, with many businesses looking for strategic partners and others seeking acquisitions at rational prices," noted Mr. Hendler. "There is a great deal of potential in the current market, but companies need all the information they can gather to make insightful decisions that will enhance their long term profitability."

Mr. Hendler has more than 30 years of experience in all aspects of the fashion, apparel and textile industries including investment banking, finance, marketing, production and distribution. As founder and president of Net Worth Solutions, he has completed numerous high profile transactions, including sales of privately held businesses to public and private entities, divestitures for both public and private companies, recapitalizations, mergers, and financing.

Topics of the panel discussion will include:

  • Market conditions and demand for brands
  • Preparing trademark portfolio and financials
  • Valuing the brand
  • Identifying strategic partners and finding the right opportunity
  • Maximizing value
  • Negotiating a deal tailored to particular goals and needs
  • Examples of recent transactions

Mr. Gursky noted, "Even though buyers and sellers may encounter additional obstacles in today's marketplace, deals are still being put together for companies that utilize the right strategies."

Mr. Gursky is widely recognized within the fashion industry for his expertise in matters involving both the licensing and protection of intellectual property, as well as retail store leasing. He has acted as outside general counsel to a number of apparel companies and is a well-known leader in anti-counterfeiting efforts in the luxury goods industry. He has represented numerous clients such as Tommy Hilfiger, Michael Kors, Tory Burch, Nike, Nautica, Perry Ellis, Esprit and Diesel, among many others. Mr. Gursky's recent work includes negotiating leases for prime retail space on Manhattan's Fifth Avenue for Diesel, Tommy Hilfiger and Esprit.

*** Individuals interested in attending the event should contact Meredith Miller at 212-710-5961. 

Background on Net Worth Solutions

New York-based Net Worth Solutions, Inc. is a prominent merger and acquisitions firm providing investment banking, strategic alliance, and a complete range of M&A advisory services to the fashion industry, including apparel, footwear, home furnishings, accessories, jewelry, and other mid-cap retail manufacturers and wholesalers. For additional information, please visit www.networthsolutionsinc.com.

Background on Dreier LLP

Dreier LLP was founded in 1996 by Marc Dreier as a more responsive and innovative alternative to traditional "large-firm" lawyering. Dreier LLP represents a wide range of institutional, entrepreneurial and individual clients in diverse sectors of financial, industrial and service-oriented markets. The firm's principal practices are commercial litigation, real estate, bankruptcy and corporate reorganization, employment, corporate and securities, entertainment, intellectual property, matrimonial and tax. Dreier LLP's Los Angeles affiliate, Dreier Stein Kahan Browne Woods George LLP, has its principal practice in entertainment and commercial litigation and corporate transactions. The firm's New York affiliate Schlesinger Gannon & Lazetera LLP has an extensive practice in the area of trusts and estates law. Pitta & Dreier LLP is an affiliate which specializes in labor law, and Pitta, Bishop, Del Giorno & Dreier LLP specializes in government relations. In the 12 years since its founding, Dreier LLP, with its affiliate members, has grown to more than 200 attorneys, with its principal office at 499 Park Avenue in Manhattan, and additional offices in Los Angeles and Santa Monica, California; Albany, New York; Stamford, Connecticut; and Pittsburgh, Pennsylvania. For additional information, please visit www.dreierllp.com.


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