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| Entertainment book open, closed, open again. |
Entertainment is a pretty big deal when it comes to fundraising companies. Although their commitment to schools and groups may change in the digital age, millions of people use their coupons for discounts in their local markets every year.
It would appear that investors played the biggest factor in the demise of the company, leading to a bankruptcy filing and complete shut down of the company - not the coupon fundraiser itself.
Of course, shutting down a company of this size gets people thinking and it wasn't long before family stepped in to reclaim the company making an offer of $11.3 million to buy the company assets.
Here are a few articles to look at for a better idea of where things stand:
Son of Entertainment Publications founders makes $11.3 million offer to buy company assets
Direct link:
http://www.crainsdetroit.com/article/20130322/NEWS/130329946/son-of-entertainment-publications-founders-makes-11-3-million-offer
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Entertainment® Coupon Book Company Acquired by Son of Company Founders
Direct link:http://www.entertainment.com/about/company/press/entertainment-coupon-book-company-acquired-by-son-of-company-founders/
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So, how will the Entertainment book fare with their comeback? I guess nobody knows. From what I can gather, they seem confident in their ability to change with the times. They suggest that their business model had nothing to do with the bankruptcy so by all accounts they may just be back in business.
Here is the original post with the comeback announcement comment at the bottom of the post:
Entertainment Book Maker Files for Chapter 7 Bankruptcy, Closes Doors...
Direct link:http://believejay.blogspot.com/2013/03/entertainment-book-maker-files-for.html?showComment=1365528483548#c8898169890489751275
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Ok, until next time
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Elementary School Fundraising
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