Mrs. John L. Strong & Co. Bought out of Bankruptcy
By Staff -- Gifts & Decorative Accessories, 9/30/2009 11:06:00 AM
New York – Luxury stationery vendor Mrs. John L. Strong & Co. was bought in a bankruptcy auction earlier this month, after filing for Chapter 11 protection in the Southern District of New York in August. The company closed its East 62nd Street store and announced its bankruptcy last spring.
Houston-based private equity firm J.P. Kotts & Co., under the name The 1929 Paper Co., purchased the assets and property of the brand for just under $1 million, according to unnamed sources quoted in Crain's New York Business, and plans to keep the 80-year-old company headquartered in New York.
Seven bidders appeared in court for the Sept. 23 auction.
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