Lenox To Exit Ch. 11, Regroup After $100M Sale

Law360 (March 20, 2009, 12:00 AM EDT) -- Almost four months after filing for bankruptcy protection, giftware and collectibles company Lenox Group Inc. has finalized a deal to emerge from Chapter 11 by selling its assets to private investment firm Clarion Capital Partners LLC for approximately $100 million.

The "New Lenox," which includes the Lenox, Dansk, Gorham and Department 56 brands, will now operate outside of Chapter 11 bankruptcy after a group led by Clarion won the bankruptcy auction to acquire Lenox's assets in February, the companies announced Monday.

"We are in a position to hit the ground running and look forward to continuing the Lenox heritage and tradition...

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