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Archive | August 6, 2009

Wilton Holdings Reaches Agreement With Lenders

Wilton Brands announced today that its parent company Wilton Holdings has reached an agreement in principle with its two largest creditors regarding a restructuring of the company’s finances. The creditors, Deutsche Bank Trust Company Americas and JGF Credit, LLC,  had filed a petition in federal court last month requesting the company be placed into involuntary Chapter 11 bankruptcy after Wilton violated debt agreements with them.

According to the statement issued by Wilton Brands about the agreement:

The parties have agreed to a continued period of forbearance during which they will work to effect the financial restructuring on terms that have been mutually agreed. As part of the agreement, JGF and DB have agreed to stand still with respect to the involuntary petition filed against Wilton Holdings on July 17, 2009. Further JGF and DB have agreed that they will withdraw the involuntary bankruptcy petition at the time of the consummation of the financial restructuring of Wilton Holdings. The Company is optimistic that the restructuring will be consummated in the near term and will position Wilton Holdings as a stronger, more financially viable company.

Wilton Brands was formed in August 2007 when EK Success, already owned by GTCR, Golder Rauner, LLC., purchased Wilton Industries and Dimensions Holdings. Earlier in 2007, EK Success had launched the Martha Stewart Crafts line in stores. EK Success was founded in 1978, and purchased in 2006 by GTCR, Golder Rauner, LLC. K & Company was formed in 1996.

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CHA Giveaway: Buzz & Bloom

New exhibitor Buzz & Bloom’s CHA-Summer collection interpreted one trend (fabric) of CHA-Summer so well that they won the Innovations award for the show. The company offered die cut and embossed cord and denim fabric, as well as a selection of acrylic and cardstock embellishments.

IMG_5693Buzz & Bloom has generously donated a selection of their products to be given away to Scrapbook Update’s readers. Today the prize is some of their fabric and acrylic embellishments, including some ultra-cute denim rounds that have pirates on them:

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All you have to do to be the lucky winner is leave a comment on this entry before Midnight U.S. eastern time next Thursday night, August 13th. Make sure you include your email address in the line for it on the comment form (for your own protection, don’t put it in the body of the comment, where it will be visible to the public – just in the email line in the form where only I can see it). You will need it to verify your identity if you are the winner. One entry per person and this giveaway is limited to US and Canadian mailing addresses due to postage expense.

Check out all of the Scrapbook Update CHA-Summer 2009 Show Reports and check back because there is going to be a lot more CHA giveaways on Scrapbook Update!

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CHA Giveaway: Nikki Sivils Scrapbooker

The CHA-Summer collections from new company Nikki Sivils Scrapbooker included several of the trends in the CHA trends article featured on Scrapbook Update yesterday: Pink Christmas, Cherries, Fabric, and Die Cut Papers.

IMG_5493So who’d like to win samples of two lines that are so new you probably can’t get them in your local store yet? Thanks to the generousity of Nikki Sivils, one lucky Scrapbook Update reader can win all of this:

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All you have to do to be the lucky winner is leave a comment on this entry before Midnight U.S. eastern time next Thursday night, August 13th. Make sure you include your email address in the line for it on the comment form (for your own protection, don’t put it in the body of the comment, where it will be visible to the public – just in the email line in the form where only I can see it). You will need it to verify your identity if you are the winner. One entry per person and this giveaway is limited to US and Canadian mailing addresses due to postage expense.

Check out all of the Scrapbook Update CHA-Summer 2009 Show Reports and check back because there is going to be a lot more CHA giveaways on Scrapbook Update!

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