Bids Due for Spiegel Catalog on June 11

Prospective bidders have until June 11 to submit bids for the Spiegel Catalog business.

On May 24, Downers Grove, IL-based Spiegel agreed to sell its flagship catalog to Pangea Holdings for about $53.4 million in the form of $22 million in inventory commitments, $29.4 million in assumed liabilities, and $2 million in cash. As it did when it agreed to buy Newport News, Pangea represents the “stalking horse” bidder. Bids must exceed Pangea’s by at least $300,000. If other bids are made, the bankruptcy court is expected to hold a public auction on June 15.

Interested bidders should contact Stuart Erickson, principal at Miller Buckfire Lewis Ying & Co., at 212-895-1812.

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.