Has Spiegel Brands Lost Its Relevance?
Spiegel has been in and out of bankruptcy a few times since 2003. Not a good sign.
And just last week Signature Styles, a division of private equity firm Patriarch Partners formed two years ago to purchase Spiegel Brands, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware.
The Spiegel, Newport News and Shape Fx apparel titles were included in the filing, along with affiliate Signature Styles Gift Cards. Signature Styles is seeking court approval for the sale of its assets by early August.
Signature Styles paid nearly $22 million for Spiegel Brands two years ago. Now Signature Styles wants to bail out. So, what is up next for Spiegel Brands?
An industry insider wasn
