The two Minnesota-based businesses that are considering buying cataloger Fingerhut may have additional competition. Associated Press reports that a third, unidentified suitor is scheduled to meet with the mayor of St. Cloud, MN, on Jan. 25 to discuss the company. This third contender is said to be based in New York. Nearly 2,700 Fingerhut jobs are based in St. Cloud.
As reported last week, Federated Department Stores announced that it would liquidate Fingerhut, though it is trying to sell Fingerhut’s Arizona Mail Order and Figi’s subsidiary. Since that announcement, two parties have publicly expressed interest in buying the general merchandise cataloger. Tom Petters, chairman of Eden Prairie, MN-based RedtagBiz, heads one group of potential buyers. Business Development Group has also inquired about buying Fingerhut.