Fourth Potential Buyer Named for Fingerhut

Share this content:
The list of prospective Fingerhut buyers continues to grow as Minneapolis businessman Paul Ellarby was identified in an Associated Press report as another possible suitor.


He reportedly met with St. Cloud, MN, officials Jan. 24 and has made union leaders aware of his interest in Fingerhut, which Federated Department Stores plans to close if it cannot be sold. Fingerhut has a distribution and processing facility in St. Cloud that employs 2,700 people.


Ellarby said he leads an investor group that includes people from Texas and Colorado "with experience in retail fulfillment companies," according to the report.


"Our primary approach is to keep Fingerhut together, assuming it's a viable company," he told the St. Cloud Times while refusing to tell the newspaper about his prior business activities or the names of his partners. He would be surprised if a final sale occurred in less than three months but expected "some significant movement" within four weeks.


Also, Chicago-based union leader Noel Beasley, international vice president and manager of the Midwest regional joint board of the Union of Needletrades, Industrial and Textile Employees, emphasized patience Jan. 25. Closing a deal could take at least four to five months, he said.


"It's an enormously complicated transaction," Beasley told the Star Tribune of Minneapolis.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

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