Entertainment Books back in business

An update to the Entertainment.com bankruptcy I posted about last month – Entertainment sent me the following press release, the gist of which is that there will still be Entertainment books! (and let the company know if you have any trouble redeeming coupons):

    Troy, MI, April 25th, 2013 – Entertainment®, a leader of discounts and promotions for over 50 years, has been acquired by HSP-EPI Acquisitions, LLC, a group led by Lowell Potiker, son of company founders Hughes and Sheila Potiker.

    The acquisition by HSP-EPI Acquisitions, LLC, took place after Entertainment filed a chapter 7 bankruptcy petition on March 12, 2013, but then resumed operations on March 27, 2013, due to interest from investors like Potiker. On April 23, 2013, the transition of Entertainment to HSP-EPI Acquisitions, LLC was completed…

    The company has re-hired many employees and is looking to reinstate the majority of its workforce over the next few weeks.

    The team will release the 2014 Entertainment Books this year on schedule. Current products in the market, such as the 2013 Entertainment Book Membership or other savings membership programs, are still valid through the expiration date printed or displayed on them. This includes the ability for consumers to purchase books on Entertainment.com as well as print coupons from the online website. Additionally, the company’s merchant redemption guarantee remains in effect. [emphasis added]

    “The chapter 7 filing was a difficult time for our employees, business partners and consumers,” says Potiker. “It is unfortunate that despite delivering products to millions of consumers each year, the bankruptcy filing occurred not due to any issue related to company sales, but due to shareholder financing at the ownership level. Thankfully, with the help of the bankruptcy court, we were able to move quickly to resume operations. Now with the acquisition complete, we can not only continue on with our business, but move aggressively with our growth plans to support both our core business and ongoing expansion into the digital space.”

Share this deal with friends:
    April 30th, 2013 by