Father-Husband-Marketer-Geek

From the Original Department 56 Group on Yahoo! , there was rampany speculation as to Department 56 possibly going bankrupt due to not being able to find a buyer. The rumors started when one member of the group stated "Went to the local pizza shop today...he's an avid D56 collector & his mom owns a gift shop in town that carries D56 gift ware. When I walk in, the 1st thing he asks me is "if I heard the news"???? It seems that his mom had contacted her D56 rep to place an order & it took several days for the rep to get back to her. When the rep finally contacted her, his mom asked about the possibility of carrying some D56 villages. Her rep told her that D56 is about to file bankruptcy,that they are going under because they couldn't find a buyer." As another member pointed out, if Department 56 had to file bankruptcy, it doesn't automatically mean they'll be out of business. It means there will probably be a reorganization and a relaunch. One...

Discovered this news item late last week: Lenox Group Inc. Provides Update on Strategic Alternatives Review Process . An excerpt: " Lenox today announced that it had been unsuccessful in finding a buyer for the company (Department 56) as a whole, at an acceptable price, but continues to actively explore other strategic alternatives.... click here to read the complete story . My two cents -- In trying to consider potential buyers, how about: - the employees themselves - a large distributor such as Sears - a consortium of Dept 56 dealers - a group of funded collectors - an entertainment company such as Disney - a movie studio looking to cross-promote holiday movies such as Universal Studios Related articles by Zemanta Lenox trying to sell Department 56 Taking Advantage of Slow Ebay Auctions Wall Street Results for Department 56 (Lenox)

This is an excerpt from an article in the Minneapolis Star Tribune : "The parent company is looking for a buyer for its collectibles subsidiary after it was unable to sell its entire enterprise. Former management thought they couldn't do anything wrong, which jumped back and bit them. Department 56 , the venerable retailer known for collectible giftware and limited-edition Christmas decorations, was put on the selling block by its parent firm, Lenox Group. Struggling Lenox said Monday that it is in "advanced discussions" regarding the sale of Department 56 after it was unable to find a buyer for all of Lenox, which includes Lenox and Dansk tableware and Gorham silver settings. Lenox has been looking for financial suitors since January when its board hired Berenson & Co. to review strategic options "including a sale of the [entire] company, a sale of a portion of the company, and raising additional equity capital." "While market conditions have ham...

Lenox Group Inc. Reports First Quarter 2008 Results for its first quarter ending March 29, 2008. - courtesy of the Trading Markets website An excerpt from their article: Net sales for the first quarter 2008 totaled $71.4 million as compared to $86.4 million for the comparable prior year period. Net loss for the first quarter of 2008 was $9.1 million as compared to a net loss of $13.0 million in the comparable prior period. EBITDA (earnings before interest, taxes, depreciation and amortization) adjusted for special or one-time items for the first quarter of 2008 was a loss of $5.2 million as compared to loss of $11.4 million for the same period in 2007. (See table below). The Company's business is highly seasonal and historically operates at a net loss in the first quarter of its fiscal year. Marc Pfefferle, Interim Chief Executive Officer, said, "The reduction in net sales is primarily due to lower inventory liquidation sales in the first quarter of 2008 as compared to 2007...

Lenox Group, which purchased Department 56 two years ago, recently released their latest earnings report . It wasn't particularly resounding, and D56 wasn't mentioned at all, until they started talking about what they're going to do to come out of it: "integrate certain Lenox and Department 56 operations". In a related story, Lenox Group, Inc. announced they are going to work with IMC Licensing to come up with new products and markets . Excerpt: Lenox Group Inc. (NYSE: LNX), a leading tabletop, giftware and collectible company, today reported financial results for its fourth quarter and full year ending December 29, 2007. Net sales for the fourth quarter 2007 totaled $135.0 million as compared to $159.1 million for the comparable prior year period. Net income for the fourth quarter of 2007 was $4.4 million as compared to a net loss of $6.4 million in the comparable prior period. EBITDA (earnings before ...