Fingerhut talks under way

The Minneapolis “Star Tribune” reports that talks are under way for Federated Department Stores to sell its Fingerhut catalog rather than liquidating it. According to the paper, Federated executives met with several potential buyers in an hourlong meeting the evening of Jan. 24, in the office of Minnesota attorney general Mike Hatch. Federated last week announced plans to shut down Fingerhut and has begun issuing layoff notices to thousands of workers.

Among the interested parties: KPS Special Situations Fund, a New York-based private equity fund; Eden Prairie wholesaler Tom Petters;and Wayzata, MN-based turnaround company Business Development Group.

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