Telebrands is Resurrected with Creditors Cash

Share this article:
Just weeks after announcing the company was going belly up, creditors have stepped in and heaped $4 million into the Telebrand's cauldron to keep the Fairfield, NJ-based direct response television marketing company alive and get them back on the airwaves.

Fifteen of the company's largest creditors gathered last week to formalize the plan, which was announced Monday by Telebrands president A.J.Kubani.

"I am extremely appreciative to the creditors who worked hard on putting this deal together, he wrote in a statement. "The committee recognized the importance of resolving Telebrands difficulties on an expeditious and amicable basis. I am pleased to share with my creditors what I know will be a bright and exciting future for Telebrands."

Repayment of all previous debt will be termed out so the 17 year old company company will have available cash to continue marketing products to consumers via DRTV.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

Day Two at DMA2014

Day Two at DMA2014

It was awards day in San Diego, with Teradata's Lisa Arthur being named Marketer of the Year, and Google Japan being feted for its direct mail prowess.

Today's Forecast: Chilly With a 10 Percent Lift in Parka Sales

Today's Forecast: Chilly With a 10 Percent Lift ...

The Weather Company launches a website offering marketers free advice on how to take advantage of shifts in the weather.

DMA 2014 Kicks Off Under New Management

DMA 2014 Kicks Off Under New Management

Thomas Benton and Jane Berzan will preside over an event indicative of an association serving a wider array of industry segments.