Foreside Considering Sale
By Staff -- Gifts & Decorative Accessories, 8/15/2006 10:10:00 AM
Wellesley, MA — The Foreside Co. hired investment bank Tully & Holland Inc. to help the company “explore its strategic alternatives, including a possible sale,” the bank said in a statement. The decorative accessories and tabletop manufacturer is currently in Chapter 11 bankruptcy. However, says Stuart M. Rose, managing director of Tully & Holland, Foreside “did get financing in bankruptcy so they’re running well.”
Rose says Tully & Holland is not looking to break up the company and sell off the pieces. “Some may want to buy the wholesale and not the stores,” said Rose, “But our primary goal is to sell the whole company.” He expects that Foreside sales will increase by 20 percent next year.
Rose declined to speculate on potential buyers, but said “We’re looking for a closing sometime in the fall.”
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