A specialty chain focused on personalized merchandise, Things Remembered has filed for Chapter 11 bankruptcy protection as part of a purchase deal.
The company has executed an agreement to sell most of its business to Enesco, a producer of giftware, home décor and accessories. The deal calls for Enesco to maintain Things Remembered online, direct mail and B2B retail operations as well as a proportion of Things Remembered brick and mortar stores.
Prior to the bankruptcy, Things Remembered operated 422 physical stores. A declaration filed as part of the Chapter 11 proceedings stated that Enesco had proposed acquiring the direct business plus approximately 128 additional stores, subject to a right to add or remove stores, with a 50-store minimum.