Foster & Gallagher, Inc., Grand Rapids, MI, has sold its Walter Drake Inc., to San Francisco-based Brecon Capital, and a group of company managers. Plans call for all the gift catalog firm’s employees and management to stay, and for operations to remain in Colorado Springs, CO.
Foster & Gallagher entered Chapter 11 bankruptcy in July. The company ceased operations on June 29 as a result of financial and operational problems.
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