Hanover board shifts

Edgewater, NJ — Hanover Direct is reconstituting its board of directors following the approval of a recapitalization agreement making Chelsey Direct, LLC its controlling shareholder.

The company's Transactions Committee approved the agreement. It will also require the approval of Hanover's major lender, Congress Financial Corp., as well as the American Stock Exchange.

Jeffrey Sonnenfeld, Ken Krushel and Pen James have resigned from the board. Stuart Feldman, a principal of Chelsey Capital, LLC, a private hedge fund, and William Wachtel, a managing partner of Wachtel & Masyr, have joined the board. Donald Hecht will also be appointed to the board. Hecht has managed Hecht & Company, an accounting firm, since 1966.

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.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!