KPS Capital Wins Bid for Lenox Group
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by Chief Marketer Staff
KPS Capital Partners LP was the successful bidder in the auction to purchase the assets of the Lenox Group, which filed for chapter 11 bankruptcy protection in November.
The price was not disclosed.
KPS said it has committed sufficient capital to fund the entire purchase price and the post-closing liquidity needs of Lenox without outside financing.
The auction and sale are subject to final approval of the U.S. Bankruptcy Court for the Southern District of New York.
The offer does not include the Department 56 business which is scheduled for a separate auction process to be held shortly, according to KPS.
In addition to its eponymous operations and Department 56, Lenox operates the Gorham and Dansk brands.
