follow us

Spiegel gets OK to sell Newport

DOWNERS GROVE, Ill. — Embattled catalog retailer Spiegel Inc., working its way through a painful bankruptcy and a gradual dismembering of its retail operations, has received a green light from a U.S. Bankruptcy Court judge to sell its Newport News women's fashion unit.

Spiegel said it's selling the Newport News unit to Pangea Holdings Ltd., an investment company, for $28.6 million.

Separately, in a further winding down of operations, Spiegel put up for sale its profitable Eddie Bauer division.

Featured Video

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today