Spiegel to create new PL credit card
April 28, 2003,
Downers Grove, IL — Troubled Spiegel Group has reached an agreement with Alliance Data Systems to create a new private label credit card program for the group's merchant divisions: Eddie Bauer, Spiegel Catalog and Newport News.
The agreement will not be effective unless the bankruptcy court grants approval. If approved, there will be no transfer of existing receivables from Spiegel's prior credit card programs. In mid-March, Spiegel announced that its private label card would no longer be accepted by its subsidiary divisions. The company filed for bankruptcy shortly thereafter.
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