Designs Inc., Needham, MA, will purchase the assets of Casual Male Corp for $170 million. Design was selected by the U.S. Bankruptcy Court for the Southern District of New York as the best bidder for Casual Male.
The bid gave Designs all of Casual Male’s direct marketing and retail operations. Casual Male runs 476 stores in 44 states, as well as the Casual Male and Repp Big and Tall catalog operations.
“We are not only excited about the opportunities for our employees and shareholders in this acquisition, but we also welcome the existing employees and management of Casual Male,” David Levin, President and CEO of Designs said in a statement.
Levin continued, ” Given the close proximity of Casual Male’s main offices to our corporate headquarters in Needham, MA, we expect the combination to go very smoothly.”
Designs operates 105 Levi’s, Dockers Candies outlet stores.
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