Staff Continues to Dwindle at Fingerhut
Another 500 employees were let go this month at Fingerhut Cos., bringing the total number of staff to 1,730, down from about 6,000 in January, when parent Federated Department Stores Inc. announced that it would liquidate Fingerhut.
Earlier this month, former Fingerhut owner and businessman Ted Deikel and business partner Tom Petters reached an agreement to buy Fingerhut’s name, Web site, existing inventory, equipment and customer list.
They will also acquire Fingerhut’s distributions center in St. Cloud, MN, and Piney Flats, TN; the headquarters building in Minnetonka, MN; and the data center in Plymouth, MN.
The deal is expected to close by month’s end.
Petters and Deikel plan to integrate Fingerhut into their existing companies, BoomBuy, a members-only discount online shopping concern, and Redtag, an international wholesaler of consumer goods. Petters said they weren’t sure how many of the 6,000 laid-off Fingerhut employees would be rehired, said reports.
