Tuesday, January 16, 2007

Loss of Precious Moments leads to Enesco bankruptcy

Enesco, which cut its ties with Precious Moments in 2005, has filed for Chapter 11 bankruptcy, and has sold its assets to a private firm, Tinicum Capital Partners II LP, according to an article in the Chicago Sun-Times:

Its shareholders are due nothing. The shares were dropped from the New York Stock Exchange last June and closed Friday at 19 cents each on the Nasdaq over-the-counter market. About a year ago, the shares were at the $2 level. The company has suffered severe business setbacks, including the loss in 2005 of its affiliation with the Precious Moments line of figurines.

1 comment:

Anonymous said...

happy feet!!!!