Hanover Direct Announces Retention of Bear Stearns
WEEHAWKEN, NJ--(BUSINESS WIRE)--July 2, 1999--Hanover Direct, Inc (AMEX: HNV)
announced today the retention of Bear Stearns as corporate financial advisors for the
Company.
In connection with Hanover's previously announced digital realignment of the Company
into the Brands Marketing and Web Services divisions, Hanover has retained Bear Stearns
to provide advisory services on strategic alliances which can accelerate company plans to
become a leader in e-commerce.
The Board has given Bear Stearns broad discretion to explore a range of strategic and
financial opportunities at the Web Services, Brands Marketing or Hanover Direct
shareholder levels.
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 brand marketing division is comprised of the Company's catalog and
e-commerce web site portfolio of home fashions, apparel and gift brands, including
Domestications, The Company Store, Colonial Garden Kitchens, Kitchen & Home,
Improvements, The Safety Zone, Silhouettes, Tweeds, International Male, Austad's,
Undergear, and Gump's By Mail. The Company also owns Gump's, a retail store based in San
Francisco. Each brand can be accessed on the Internet individually by name. The web
services division is comprised of the Company's Internet marketing services group,
systems platform, fulfillment and telemarketing and third party fulfillment service
vendor, Keystone Fulfillment Inc. (www.keystonefulfillment.com). Information on Hanover
Direct, including each of its divisions, can be accessed on the Internet at
www.hanoverdirect.com.
CONTACT: AGG International, Public Relations
Paula Zwerdling
Managing Director
(212) 869-8230
17:30 EDT JULY 2, 1999 |
