7/10/09

German cataloger will keep Venus Swimwear afloat

German apparel retailer Bon Prix has bought a substantial portion of the assets of Venus Swimwear and plans to continue to operate the catalog and online retailer, the company’s receiver said today.

Katie Evans , Managing Editor, International Research

Financially troubled web and catalog retailer Venus Swimwear Inc. has found a buyer and will remain in business, the state-appointed receiver told Internet Retailer today.

Bon Prix, a German catalog and online apparel merchant, has bought a substantial portion of the assets of Venus Swimwear, according to the receiver, Jack Meeks. “They intend to continue operating and grow it substantially,” Meeks said. He did not disclose the purchase price.

Meeks was appointed to oversee the company when it ran into financial difficulties in May. He said Daryle Scott, the president, CEO and founder, has left the company. He also said that Golden Gate Capital, the private equity firm that bought Venus Swimwear in 2006, no longer has an ownership stake in the retailer.

Venus Swimwear is No. 199 in the Internet Retailer Top 500 Guide.

Topics:

business finance, Venus Swimwear

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