Federated to explore Fingerhut sale options
March 29, 2002,
Cincinnati — With negotiations between Federated Department Stores and Business Development Group Acquisitions for the sale of Fingerhut still at an impasse after more than a month, Federated has announced that it will begin to explore other potential transactions and may entertain offers to sell off individual pieces of the division.
In addition, Federated said that 3,300 of the approximately 3,700 Fingerhut employees who previously received termination notices will be terminated by April 5.
Federated announced its intention to sell or shutter its Fingerhut operation in January. Fingerhut includes the catalog subsidiaries Arizona Mail Order, Figi's and Popular Club.