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January 17th, 2002, 05:29 AM #1
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- January 17th, 2005
CINCINNATI, Jan 16, 2002 (BUSINESS WIRE) -- Federated Department Stores, Inc. (NYSE:FD)(PCX:FD) announced today that it intends to dispose of the operations of its Fingerhut subsidiary.
Zimmerman said that while Federated has not ruled out the sale of the Fingerhut catalog as an ongoing business, it is unlikely that a buyer will be found given the highly specialized nature of that business and the current economic environment. Therefore, Federated is preparing to manage the closing of the Fingerhut catalog operation and the wind down and collection of the Fingerhut receivables portfolio. Fingerhut employs approximately 6,000 people in its core catalog operations, approximately 4,700 of whom are located in Minnesota, with an additional 1,300 at telemarketing and distribution centers in eastern Tennessee.
Can someone move this to the correct forum? Being the stupid person I am, I posted it in the wrong one [img]/infopop/emoticons/icon_wink.gif[/img]
[ 01-17-2002: Message edited by: evilbob ]
January 17th, 2002, 05:35 AM #2
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