Focus Management Group

September 21, 2010 – Focus Management Group (“Focus”), a nationwide business restructuring firm, announced the completion of the court-approved sale of the remaining non-inventory assets of its client, Gems TV (USA) Limited (“Gems TV USA”).

The buyer, Zalemark Holding Company, Inc., purchased television studio, warehouse and other equipment and assets and is planning to broadcast its own shopping channel from the former Gems TV USA location.

In its role as Financial Advisor, Focus Management Group has provided Gems TV USA with advisory services and consultation related to winding down the company’s operations. Gems TV USA was a multimedia jewelry home shopping network and online retailer seen in 40 million TV homes. Gems TV USA filed for Chapter 11 bankruptcy protection after its ultimate parent company, Singapore Exchange Main Board–listed Gems TV Holdings Limited, announced on March 8, 2010 that it was ceasing operations of Gems TV USA and taking an investment position in Multimedia Commerce Group, Inc., operator of direct competitor Jewelry Television.

Leading the Focus team overseeing the Gems TV USA engagement was Robert Riiska, Managing Director and head of Focus Management Group’s West Coast practice.

“Focus and Gems TV USA’s management team worked closely together on what proved to be a very successful liquidation strategy,” Riiska said. “We were able to sell the vast majority of the jewelry inventory on television and the internet, realizing very high recoveries compared to other alternatives. Simultaneously, we pressed forward with our efforts to sell other assets.”

Gems TV USA President Diane Schneiderjohn commented, “Gems TV USA is very pleased that our overall liquidation strategy developed with Focus resulted in our meeting the objective of providing a 100% recovery for our general unsecured creditors.”

With more than 20 years of turnaround management experience, Riiska has performed numerous consulting assignments serving in interim senior financial management capacities and in diverse court-appointed roles. Riiska’s consulting assignments have included the preparation of budgets used to obtain DIP financing, due diligence reviews, cash management for companies operating in Chapter 11, business plan assessments and viability analyses.

Riiska is based out of Focus Management Group’s Los Angeles office and can be reached at (310) 255-8871 or via e-mail at r.riiska@focusmg.com.