Concepts Direct to Sell Remaining BooksDirect marketer Concepts Direct Inc., Longmont, CO, said yesterday it reached an agreement to sell its remaining catalog brands to Direct Retailing Inc.
The company sold its Colorful Images business in September to Current USA Inc., Colorado Springs, CO.
Catalogs involved in the deal announced yesterday include Linda Anderson, The Music Stand, Garfield Stuff, Characters and New Bargains. The sale is to close before Dec. 31. Financial terms of neither deal were disclosed.
Direct Retailing is a new company formed by members of management and employees of Concepts Direct.
After completing the sale, Concepts Direct will focus on managing or selling its remaining non-operating assets. Concepts Direct is winding down operations and plans to conclude that process by the end of the year.