Hanover CFO Resigns, Earnings Restatements Coming

As Edgewater, NJ-based multititle mailer Hanover Direct tries to clean up its mess of late financial filings and earnings restatement, its chief financial officer, Charles Blue, resigned on March 14. CEO Wayne Garten will act as chief financial officer until the board appoints a replacement.

Hanover is finishing its financial restatements for fiscal 1999 through 2003 and the fiscal quarters ended March 29, 2003; June 28, 2003; Sept. 27, 2003; March 27, 2004; and June 26, 2004. It is also completing its financial statements for the fiscal quarter ended Sept. 25, 2004, and its financial statements for fiscal 2004.

Hanover’s titles include apparel catalogs Silhouettes, International Male, and Undergear, and home decor books Domestications and The Company Store.

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