Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Chuck Kurth, former top financial and administrative officer for the Mervyns regional department store chain, has been named chief financial officer of web-only retailer Art.com.
Chuck Kurth, former top financial and administrative officer for the Mervyns regional department store chain, has been named chief financial officer of web-only retailer Art.com Inc.
Kurth, who replaces David Cooper, will oversee Art.com’s finance, accounting and legal functions. “His extensive experience as a retail finance leader will be essential in helping Art.com Inc. achieve its long-term vision,” says Art.com chairman and CEO Michael Heinstein.
The online retailer, No. 93 in the Internet Retailer Top 500 Guide, operates three branded e-commerce sites-Art.com, AllPosters.com and ArtistRising.com, which sells works of new artists.
Kurth brings to the web-only retailer more than 20 years of experience in the retail industry. He most recently served as executive vice president and chief financial and administrative officer for Haywood, CA-based Mervyn’s LLC, which operates the Mervyns department store chain.
Mervyn’s, which is operating under Chapter 11 bankruptcy proceedings, announced that it plans to run going-out-of-business sales at its remaining 149 stores throughout the holiday shopping season as a way to liquidate its merchandise. It also plans to auction off its store leases.
Mervyn’s has not operated a retail e-commerce site, a spokeswoman says.