dELIA*s Sells Subsidiary
dELIA*s is now a lighter company following the divestment of one of its brand lines. The company announced that it has sold its Alloy subsidiary to HRSH Acquisitions, which is conducting business under the name Alloy Apparel and Accessories. dELIA*s was paid $3.7 million in cash for the unit, and the buyer will assume roughly $3.1 million in liabilities.
The two parties also signed an agreement under which dELIA*s is to furnish "certain transitional services" to Alloy Apparel and Accessories for a maximum of one year.
In the press release announcing the transaction, dELIA*s quoted outgoing CEO Walter Killough as saying that the sale "will enable us to focus our efforts exclusively on our dELiA*s brand as we work to improve our product offerings and enhance the overall customer experience."
The article dELIA*s Sells Subsidiary originally appeared on Fool.com.
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