Hanover Direct is selling its Gump's operation to WaldenVC, Stone Canyon Venture Partners and to Sand Springs Holdings, a private investment company.
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Hanover Direct is selling its Gump's operation to WaldenVC, Stone Canyon Venture Partners and to Sand Springs Holdings, a private investment company.
Terms were not disclosed. The deal is expected to close in March.
Jed Pogran, president of Gump's, will lead the company, which includes catalog and Internet operations as well as a flagship store in San Francisco.
