What’s Next For Orchard Brands?
What are we to make of Orchard Brands being for sale?
Beverly, MA-based Orchard Brands, which sells apparel, accessories and home goods to consumers age 55 and older, reportedly owes more than $700 million to lenders.
Multititle mailer Orchard Brands, through its parent company Golden Gate Capital, hired Moelis & Co. to find a buyer for the $1.17 billion business.
Orchard Brands is ranked #26 on the 2010 MCM 100. Are things bad at Orchard Brands or is the company maneuvering itself somehow to strengthen what has been a powerful company under chairman/CEO T. Neale Attenborough? Industry watchers seem to think Orchard Brands is still performing well, even in a depressed economy.
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