Things Remembered Finds A Buyer After Bankruptcy Filing

Things Remembered, a retailer that sells personalized gifts and merchandise, will sell most of its business to Enesco, a distributor of giftware, home décor and accessories, upon filing for Chapter 11 bankruptcy protection.Financial terms of the sale have not been disclosed, but Enesco reportedly had a deal to acquire the assets for $17.5 million, subject to higher bids.

After the sale, Enesco intends to operate the online, direct mail and B2B retail businesses of Things Remembered, as well as an undetermined portfolio of current stores under the Things Remembered brand. Things Remembered currently operates approximately 450 stores in 43 states, but the retailer was preparing to close 220 locations and 30 kiosks before the sale, according to court documents. The same documents indicated that Enesco’s offer would include at least…