The tumult continues at multititle gifts and stationery mailer Concepts Direct. On April 14, the board of directors of the Longmont, CO-based cataloger unanimously agreed that Concepts Direct’s special committee, which had been set up to seek strategic alternatives, be disbanded immediately—as recommended by the committee’s two members.
Concepts Direct has formed the committee in December, several days after chairman/president/CEO Philip Wiland and his wife submitted an offer to the board of directors to buy the company for $0.68 per share. The company, which mails the Colorful Images, Linda Anderson, Linda Anderson’s Collectibles, Snoopy Etc., The Music Stand, and Garfield catalogs, passed on the Wilands’ bid in February.
Also on April 14, board member Marshall Geller resigned. So did fellow board member Robert Burrus, in response to Wiland’s mandate for cost reductions. At that point, the three remaining board members adopted a resolution setting the number of directors at three. That led to the resignation by another board member, Virginia Bayless. Wiland said in a statement that he is uncertain when he’ll fill the remaining vacant board seat.