Signature Styles, a newly-formed company controlled by investment funds managed by Patriarch Partners, has acquired substantially all of the operating assets of Spiegel Brands and affil
Signature Styles, a newly-formed company controlled by investment funds managed by Patriarch Partners, has acquired substantially all of the operating assets of Spiegel Brands and affiliates.
Spiegel sells apparel directly to customers under the Spiegel, Newport News, and Shape fx brands.
"We are excited to write a new chapter in the great history of this iconic American brand. Spiegel is the Yellow Pages of catalogues; the Spiegel catalogue has been a staple in American households for decades," says Patriarch chief executive Lynn Tilton. "We look forward to working closely with Geralynn and her team to bring new innovation to this collection of legacy brands. Spiegel’s success has long been built upon the strength of its customer relationships, and we will enhance those through meeting the needs of our customers in the face of this challenging economic environment."
"Today is a great day for our company. Today we move forward and leave recent financial troubles behind," adds Spiegel president and chief executive Geralynn Madonna. "Lynn’s vision for the company and understanding of customer service are clear. We look forward to continuing to serve our dedicated customers, honoring gift cards and continuing club loyalty programmes."
Patriarch is a private equity firm founded in 2000. It was built upon a patented financial model designed to manage and monetize the distressed portfolios of financial institutions.
