Share this on

Gracious Home Acquired

GDA Staff -- Gifts and Dec, 12/8/2010 3:47:46 PM

New York - New York City retailer Gracious Home was acquired by Americas Retail Flagship Fund LLC on December 8. The company had filed for bankruptcy in August under its previous ownership; this sale means that the 250-employee company won't have to close.

The private investor group includes Joel Kier, Chairman and CEO of the Kier Group, a private investment firm with significant restructuring expertise focused on consumer product and retail companies and Isidore Mayrock, former principal partner of Fortunoff. Said Kier, "We look forward to working with the Gracious Home team and using our resources, and financial, real estate and retailing acumen to further develop the company."

"All of us at Gracious Home are highly motivated about our future and look forward to partnering with such experienced investors who understand and respect the Gracious Home values and customer-focused culture," said Jordan Smilowitz, president and COO of Gracious Home.

Share this on

Talkback

We would love your feedback!

The Gifted Retailer

Nov 28, 2011

Brand Sense Partners Acquires Stake in DwellStudio

Jul 18, 2011

Ex-Macy's Suval Starts Consulting Firm

Apr 19, 2011

The Gifted Retailer

Apr 4, 2011

Corning to Sell Steuben

Jul 23, 2008

Also by this author

»MORE

Featured Company

FurnitureCore.com

FurnitureCore.com is a dynamic web application aimed at the furniture industry. Retailers and manufacturers alike will find our deep reserve of tools to be exactly what their furniture business needs.www.furniturecore.com... more