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

Law360, New York (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 view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.