Federated Department Stores, Inc. will close its Fingerhut subsidiary and sell off whatever assets it can, the firm announced today.
The move will affect 6,000 employees, including 4,700 in Minnesota and 1,300 at telemarketing and fulfillment centers in Tennessee.
The closing follows a 19.6% decline in December sales for the low-end cataloger, from $262 million the year before to $209 million.
Network
