(Direct Newsline)–Fingerhut Cos. has begun work to complete several catalogs that had been in production prior to Federated Department Stores’ decision in January to close the catalog.
The work resumes following the signing Feb. 21 of a non-binding letter of intent for Federated to sell the catalog to a group led by businessman Peter Lytle, says Fingerhut spokesperson Ben Saukko.
Business Development Group Acquisitions, Lytle’s firm, has until week’s end to make a decision about the purchase. Saukko cautions that the resumption of production does not equate to a sealed deal.
On Jan. 16, Federated said that it would close its Fingerhut subsidiary and sell off whatever assets it could if a buyer could not be found. The firm mailed its last catalog in late January.