PRZOOM - /newswire/ -
Troy, MI, United States, 2013/04/03 - Entertainment Promotions, the 50 year old discounts and promotions brand, resumed operations on 3/27, after filing a chapter 7 bankruptcy petition. If successful, one bidder, son of the original founder, intends to continue the company - Entertainment.com.
Pending a sale to new ownership, entertainment promotions operates as a going concern as part of bankruptcy proceedings.
Entertainment Promotions, the 50 year old discounts and promotions brand, resumed operations on March 27, 2013, after filing a chapter 7 bankruptcy petition on March 12, 2013. Charles M. Forman, who was appointed chapter 7 trustee by the United States Department of Justice, was authorized by the Delaware Bankruptcy Court to operate Entertainment Promotions as a going concern pending its sale, which is expected to occur on or about April 22, 2013.
During this time, Entertainment Promotions will to continue to serve its consumers, merchants, partners and vendors. We are proud to announce that:
• Entertainment.com is accessible to its members for online savings;
• 2013 Entertainment Book Memberships may be ordered online;
• Shipping of Entertainment Book Memberships is resuming;
• Spring Entertainment fundraising programs are resuming and delivery of product is commencing;
• The Entertainment merchant network is intact and operational;
• Our merchant redemption guarantee remains in effect and our merchant support staff is in place;
• The Corporate Marketing Solutions team is working with their clients to ensure that their needs are met;
• Corporate partner programs continue to be intact with fully functional websites;
• Contracts entered into with Entertainment prior to the Petition Date are and have remained valid and Entertainment intends to honor its obligations as outlined in the contract.
Mr. Forman received an offer for Entertainment from HSP-EPI Acquisitions, LLC. If successful, the bidder, HSP-EPI Acquisitions, LLC, (whose members includes Lowell Potiker, son of founders Hughes and Sheila Potiker) intends to continue to operate Entertainment. In addition, other parties have expressed interest in purchasing and operating Entertainment.