Florence, MA-based Motherwear, a cataloger/retailer of apparel and accessories for expecting and nursing mothers, has been sold to manufacturer/fulfillment company Pangea Holdings.
Motherwear’s previous owners, Jody Wright and Prakash Laufer, still maintain an interest in the company and will lead it going forward. According to a press release, the 21-year-old Motherwear was under “financial siege,” and had to retain Springfield, MA-based Meadowbrook Lane Capital to avoid liquidation. The sale closed at the end of February.
Christian Feuer, a partner affiliated with Pangea Holdings, is no stranger to the catalog business; he was formerly vice president of marketing and advertising production for Spiegel Catalog–experience that will now doubt serve him well should Pangea win the 363 auction for Spiegel unit Newport News. (Spiegel has agreed to sell Newport News to Pangea, pending a higher bid at the “stalking horse” auction expected to take place later this month.)
Now dubbed Motherwear International, the company will keep its headquarters in Florence, and no further layoffs are expected. Motherwear had reduced its staff by 40% in September.