Fingerhut Deal Could Be Imminent

Share this content:
The countdown to the possible sale of Fingerhut may be in its final days, or even hours.


A wire service report Tuesday stated that a group led by Peter Lytle could complete the purchase of the cataloger from parent company Federated Department Stores Inc., Cincinnati, this week.


The managing partner of Business Development Group, Wayzata, MN, reportedly said financing agreements are "pretty much in place" and stated that the operation would be leaner. He did not specify the number of jobs that would be eliminated.


BDG, through its investment subsidiary, Business Development Group Acquisitions Inc., signed a nonbinding letter of intent a little more than a month ago to purchase Fingerhut.


Federated announced in January that it would close down Fingerhut, Minnetonka, MN, if a buyer could not be found.


Details of the BDG offer have not been revealed. In January, Federated issued required 60-day layoff notices to most of Fingerhut's 6,000 workers. However, Federated notified the Union of Needletrades, Industrial and Textile Employees last week that its members would not be laid off before April 7, as the company continues talks with BDG.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above