Artemiss Buys Assets of Bankrupt Signature Styles

A bankruptcy judge has approved the sale of substantially all of catalog and internet retailer Signature Styles LLC's assets to Artemiss, Reuters reported Monday. Signature Styles, owner of catalog and internet retail sites including Spiegel, filed for Chapter 11 bankruptcy protection in June. Signature Styles was formed in June 2009 by investment firm Patriarch Partners to acquire Spiegel Brands from Dymus Funding Co. Artemiss will reportedly pay $2 million in cash, assume up to $10 million owed in gift cards and will also assume some debt, Reuters wrote. In this summer’s bankruptcy filing, the company listed assets in the $10 million-$50 million range, and debts in the $50 million to $100 million range.

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