11/28/11

Bluestem Brands will stay private for now

The company once known as Fingerhut pulls its IPO filing.

Mark Brohan , Research Director

Bluestem Brands Inc., the direct marketing company formerly known as Fingerhut, will remain a private company for now.

In an updated filing with the U.S. Securities and Exchange Commission, Bluestem, No. 94 in the Internet Retailer Top 500 Guide, has delayed its planned initial public offering.

Bluestem gave no immediate reason for the delay. The filing only confirmed that Bluestem was pulling its initial stock offering.

Bluestem had expected to raise up to $150 million when it filed to go public in April.

Prior to pulling its IPO, Bluestem in an earlier public filing in September reported:

Average order was $184.47, up about 6.5% from $173.28.

Topics:

Bluestem, Bluestem Brands, Bluestem IPO, delayed IPO, Fingerhut, initial public offering, IPO, SEC filing, Top 500

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