Wilmington, DE—CATALOG AGE has learned that the U.S. Bankruptcy Court for the District of Delaware approved the sale of Stark Bros. Fulfillment Services Co., a division of now-defunct Foster & Gallagher (F&G), to Lexton Group. Former Stark Bros. vice president Jack Alexander is president of Lexton. Terms of the deal, which was approved Aug. 27, were not disclosed.
On Sept. 19, the bankruptcy court approved the sale of substantially all the assets of F&G’s gifts business, including the Walter Drake catalog, to San Francisco-based Brecon Capital; Lawrenceburg, IN-based Gardens Alive won approval to buy F&G’s horticultural division. Both deals are expected to formally close in early October and include most of the real estate, intellectual property, equipment, and inventory.
According to F&G spokesperson Doug Morris, all that’s left of F&G to be liquidated is the corporate real estate, such as offices and call centers. It is unknown when the court will decide on the fate of those properties.