Calvert Retail, a kitchenware retailer located in Delaware, has wasted no time diving into the business of Southern Season, in which they recently acquired from a bankruptcy auction.
According to The News-Observer, a local media outlet, the owner of six Kitchen & Company stores spent Monday familiarizing themselves with the business and observing and learning as much as they can, according to Kaela Mast, the company’s director of marketing.
Mast explained that Calvert acquired Kitchen & Company in 1999 for $3.3 million and that the acquisitions are, “very similar situations.”
Calvert acquired Southern Season’s flagship store in Chapel Hill, its website, trade names and intellectual property. The company plans to close three smaller outlets, called A Taste of Southern Season, in Raleigh, Asheville and Charleston, S.C., according to the report.
Calvert acquired Southern Season for $3.5 million and plans to take Southern Season out of bankruptcy.
Details such as continued vendor relationships and the accepting of gift certificates purchased prior to the bankruptcy filing have yet to be ironed out.