Printer Friendly

SPIEGEL ANNOUNCES AGREEMENT TO ACQUIRE ASSETS OF NEW HAMPTON

 DOWNERS GROVE, Ill., Aug. 12 /PRNewswire/ -- Spiegel Inc., today announced the signing of a definitive agreement calling for the purchase of substantially all the assets of New Hampton Inc.
 New Hampton is a specialty catalog company selling predominantly women's apparel at moderate price points. The company's principle catalog, Newport News (formerly Avon Fashions), is an established leader in this market. Two smaller catalogs are James River Trader and Brights Creek.
 Commenting on the transaction, a Spiegel spokesperson said, "New Hampton has a demonstrated record of success over many years. When coupled with Spiegel's financial strength and niche marketing expertise, we believe New Hampton will return to profitability and growth."
 The transaction will proceed after bankruptcy court approval. New Hampton was placed in Chapter 11 reorganization on Aug. 11 in New York, N.Y. Subject to court approval, it is anticipated that the transaction will close within the next several weeks and that Spiegel will provide financing for the business during this period.
 Spiegel Inc. is the dominant multi-channel specialty retailer marketing fashionable apparel and home furnishings to customers through catalogs and more than 280 specialty retail stores. Spiegel's businesses include Eddie Bauer, Crayola Kids, and For You From Spiegel. Spiegel's Class A non-voting common stock trades on the NASDAQ National Market System under the ticker symbol: SPGLA.
 -0- 8/12/98
 /CONTACT: Debbie Koopman of Spiegel, Inc., 708-769-2596/
 (SPGLA)


CO: Spiegel Inc.; New Hampton Inc. ST: Illinois IN: REA SU: TNM

SH -- NY058 -- 2187 08/12/93 14:42 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 12, 1993
Words:250
Previous Article:CALLOWAY'S NURSERY ANNOUNCES RESULTS FOR PERIODS ENDED JUNE 30, 1993
Next Article:MAYTAG CORPORATION DECLARES DIVIDEND
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters