Stylesite Marketing Assets to be Sold at Auction

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Substantially all of the assets of Stylesite Marketing, Inc., Teaneck, NJ, the catalog marketer that filed for Chapter 11 bankruptcy protection in late January, and its subsidiaries, will be sold at auction by the United States Bankruptcy Court, Southern District of New York, on February 29, 2000, according to a court notice.


Creditors include Arandell Schmidt Corp., Menomonee Falls, WI; MBS Multimode, Central Islip, NY; United Parcel Service; and World Color, Greenwich, CT.


Stylesite President Warren H. Golden sent an e-mail to several catalog industry contacts, including members of the Direct Marketing Association's Catalog Council, indicating companies interested in receiving a bidding package or additional information should get in touch with Rochelle R. Weisburg, Esq., at Angel & Frankel, New York, one of three attorneys handling the debtor.


Lew Magram and Brownstone Studio are Stylesite's two core catalogs. Assets excluded from the sale of the company, which was formerly known as Diplomat Direct Marketing Corp., are included in its asset purchase agreement, detailed on the Court's Web site at www.nysb.uscourts.gov.
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