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Post a commentCharming Shoppes sells credit accounts
Bensalem women's apparel retailer Charming Shoppes Inc. said today that it had completed its sale of 4.5 million customer credit-card accounts to Alliance Data Systems Corp.
The company received $136 million net cash proceeds for turning over operations and financing for accounts belonging to Lane Bryant, Fashion Bug and Catherines customers.
Charming Shoppes president and chief executive Jim Fogarty also announced the hiring of four executives to oversee sourcing, or acquisition, of goods for each of the chain's brands. - Maria Panaritis
