Zany Brainy Views Crafts As Important Category For New Store Profile

摘要

On the day that Zany Brainy entered into Chapter 11 Bankruptcy, CEO Tom Vellios promised the trade that within 90 days the company would be on solid ground. In mid-August, right on target with his self-imposed goal, Wells Fargo & Co's Retail Finance unit arranged and will agent a $115 million credit line to Right Start Inc. to facilitate the acquisition of Zany Brainy Inc. In conjunction with the deal, Waterton Management LLC will invest $20 million in exchange for about 48% interest in Right Start.