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COLORADO SPRINGS, Colo.—Current USA Inc. has agreed to acquire gift catalog and online retailer Lillian Vernon Corp., which filed for bankruptcy protection in February.
Bankruptcy court filings indicated Current agreed to a base purchase price of $15.8 million.
Current USA is a subsidiary of Taylor Corp. that provides stationery, home decor and personalized items. It says it expects Lillian Vernon’s operations at its facility in Virginia Beach, Va., would continue.
The sale is expected to close April 10.
Colorado Springs-based Current was the winning bidder for Lillian Vernon at auction.
