Gift and plush manufacturer The Russ Companies, commonly known as Russ Berrie, is seeing its entire inventory, including licensed product, liquidated after filing for bankruptcy.
Three firms, SB Capital Group, Worldwide Merchandise Resources Corporation and Just Inventory Solutions have formed a joint-venture to purchase the inventory.
An announcement issued by the JV says the stock is valued at more than US$52 million at retail and will be liquidated to the last piece. The buyers will be taking over Russ’s plush and collectible gifts recognizable brands that include Barbie Pets, Curious George, Raggedy Ann & Andy, Scooby-Doo and The Simpsons.
The Russ Companies was founded by the late Russell Berrie in 1963 and came to distribute products through the specialty and department stores, big box retailers, national and regional drug and grocery chains, local and national card and gift stores, book stores and other fine retailers of every type.
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