Retail briefs

Spiegel DIP OK'd, prepares to slash positions

The Spiegel Group said it will cut approximately 635 positions as it restructures its Eddie Bauer headquarters organization, realigns its corporate information services and closes down a Northwestern service center. In the meanwhile, a bankruptcy court has approved $400 million in DIP financing to fund its operations during restructuring. While rival cataloger L.L. Bean considers acquiring Spiegel's Eddie Bauer operation, the division will cut 180 positions at its headquarters in Redmond, WA, the company said.

Also being cut are 90 associates in Spiegel's Chicago-area data center and headquarters. In addition, Spiegel will shutter by July 6 its teleservices division in Bothell, WA, which employs 365 people. The company said there is sufficient capacity in its other call centers to handle work previously done in Bothell. The remaining centers are located in Rapid City, SD; Hampton, VA; Saint John, New Brunswick; and Sydney, Nova Scotia.

Giles ascends further at LNT

Bill Giles has been promoted to executive vp, cfo, at Linens 'n Things, from his position of vp, cfo. He continues to report to Norman Axelrod, chairman and ceo.

Giles joined the retailer in 1991 as assistant controller, and then was promoted to vp, finance and controller in 1994, and then to vp, cfo in 1997.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!