Hanover Direct, Inc. and Chelsey Direct, LLC Complete Recapitalization and Announce Election of Donald Hecht to the Board of Dir
02 December 2003 - 12:24AM
PR Newswire (US)
Hanover Direct, Inc. and Chelsey Direct, LLC Complete
Recapitalization and Announce Election of Donald Hecht to the Board
of Directors EDGEWATER, N.J., Dec. 1 /PRNewswire-FirstCall/ --
Hanover Direct, Inc. announced today that the Company and Chelsey
Direct, LLC had completed, effective November 30, 2003, the
recapitalization of the Company and the reconstitution of the Board
of Directors contemplated by the Recapitalization Agreement
executed on November 18, 2003. Immediately following the closing,
Mr. Donald Hecht joined the Company's Board of Directors. Mr. Hecht
has managed Hecht & Company, an accounting firm, since 1966.
About Hanover Direct, Inc. Hanover Direct, Inc. (AMEX:HNV) and its
business units provide quality, branded merchandise through a
portfolio of catalogs and e-commerce platforms to consumers, as
well as a comprehensive range of Internet, e-commerce, and
fulfillment services to businesses. The Company's catalog and
Internet portfolio of home fashions, apparel and gift brands
include Domestications, The Company Store, Company Kids,
Silhouettes, International Male, Scandia Down, and Gump's By Mail.
The Company owns Gump's, a retail store based in San Francisco.
Each brand can be accessed on the Internet individually by name.
Keystone Internet Services, LLC (http://www.keystoneinternet.com/),
the Company's third party fulfillment operation, also provides the
logistical, IT and fulfillment needs of the Company's catalogs and
web sites. Information on Hanover Direct, including each of its
subsidiaries, can be accessed on the Internet at
http://www.hanoverdirect.com/. DATASOURCE: Hanover Direct, Inc.
CONTACT: Charles E. Blue, SVP & Chief Financial Officer of
Hanover Direct, Inc., +1-201-272-3412; or Rich Tauberman of The MWW
Group, +1-201-507-9500, for Hanover Direct, Inc. Web site:
http://www.hanoverdirect.com/ http://www.keystoneinternet.com/
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