Lenox Emerges from Bankruptcy
By Staff -- Gifts and Dec, 3/17/2009 6:54:00 AM
New York — Private equity firm Clarion Capital Partners LLC completed its purchase of the assets of Lenox Group Inc. today. The "New Lenox" includes the Lenox, Dansk, Gorham and Department 56 brands and will now operate outside of Chapter 11 bankruptcy. Marc Utay, founder and managing partner of Clarion Capital Partners, said in a statement, "The New Lenox has a clean balance sheet and a significant infusion of new capital to build and strengthen these trusted American brands."
Former Waterford Wedgwood CEO Peter Cameron assumes the position of chairman and CEO of New Lenox. Cameron said in a statement, "Lenox employees have worked hard over the past two years to improve their operations and product development processes. These improvements provide an enormous competitive advantage as we move forward into future development […] We are in a position to hit the ground running."
The "New Lenox" with the same old same old! Cameron had very little
success with Waterford. So now he feels he is going to make the "new
Lenox" a success. I think not. Egos!!!!!
Fred - 2009-03-18 11:15:00 EDT
success with Waterford. So now he feels he is going to make the "new
Lenox" a success. I think not. Egos!!!!!
Here Here! I couldn''t say it any better. Just wait and see what "The New
Lenox " is going to look like, and where it is going to be sold.
George Gravitz - 2009-03-18 11:12:00 EDT
Lenox " is going to look like, and where it is going to be sold.
What a disgrace!
These companies were mismanaged for years, owners and management drained liquidity out of their operations,
shut down all US factories, laid off hundreds of skilled workers and finally screwed their suppliers with the bankruptcy filing.
And now, a miracle, "The New Lenox" emerges from the ashes, and the racket starts all over again.
Rolf Poeting - 2009-03-18 10:57:00 EDT
These companies were mismanaged for years, owners and management drained liquidity out of their operations,
shut down all US factories, laid off hundreds of skilled workers and finally screwed their suppliers with the bankruptcy filing.
And now, a miracle, "The New Lenox" emerges from the ashes, and the racket starts all over again.
-
Gift and Tabletop Vendor Lenox Re-Sold to New Buyer
Feb 27, 2009 -
UPDATE: Reed & Barton Buys Lunt Assets
Feb 11, 2010 -
Enesco Acquires Department 56
Apr 24, 2009
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