Catalog analyst Sherry Chiger says credit rating hurt Fingerhut

Grants | Legacy Digitization | Programs | MPR News Feature | Topics | Business |
May 7, 2002
Tasha Rosenfeld - Reporter
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Two investors are still considering buying Fingerhut one day after Federated Department Stores called off another potential sale. Former Fingerhut chief executive Ted Deikel and Eden Prairie wholesaler Tom Petters are discussing a possible bid for the catalog company, according to their spokeswoman. Yesterday, Federated ended negotiations with Peter Lytle's investor group -Business Development Group Acquisitions, Inc- or BDGA, and says it will begin to dismantle Fingerhut in the next 30 days. Sherry Chiger(CHI-ger)- the editorial director of Catalog Age magazine- tracks the financial health of catalog companies. She says a major reason negotiations between Federated and BDGA ended was because Moody's downgraded Fingerhut's credit status:

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