Monday, November 24, 2008

Beautiful Lenox China: CHAPTER 11

Lenox Group, (Lenox China) is officially bankrupt. (HERE) My husband worked for them for seven wonderful years. They were owned by Brown Forman, the Jacks Daniels folks. They were sold a few years back to the giftware company Dept 56. The Brown family wanted to make sure the company they sold to would accept the pension program. Only Dept 56 accepted that challenge. And now Lenox is bankrupt. A beautiful America brand, destroyed over the last fifteen years. They stopped manufacturing in America - closing their crystal and china plants over a decade ago. Brides are less domestic- so setting an elegant table dropped in priority. Flat screen TVs replaced place settings for bridal registrations.

It's too depressing for words. Beautiful Lenox china. Word is Waterford Wedgewood is close behind. I guess we'll all be poor and just eat Spam off Dixie plates. I'm so sad about this.

I am so afraid for the future. Meanwhile, CitiBank is getting a bailout. Watch them raise your credit card rates next.


GFCF Mommy said...

This is sad. My sister has Lenox and I have Wedgewood. I also felt a little sad shopping the going out of business sale at Linens 'n Things this weekend.


Amy said...

That is so sad. So sad. I'm resisting getting out my soapbox right now and ranting about the freaking American public and their desperate need for "Everyday Low Prices" driving manufacturing facilities overseas and out of the US. Ooop, now there I go. If it weren't for Lenox, I'd have never met the Stalingos. I'll raise my Eternal Gold wine glass in a toast to things that were once great.

Gail said...

I agree it's sad to see these companies going under. My finance hubby says that the Citi bailout is necessary for us all but it still makes me clench my jaw.

BTW, some if not most of the pension benefits from Lenox are protected by the PBGC. In my former life I knew about this stuff. If you have any questions, I would be happy to try to figure out an answer.

Anonymous said...

There is a huge Lenox warehouse in New Jersey just off of the Turnpike exit 8a. They have constant "sales" there. Essentially it operates as more of a clearinghouse where they steeply discount Lenox wares. The "rumor" going around (and overheard recently)is that the people who work in that warehouse have been asked to sign NDA's as a condition of further employment and they are being told not to discuss ANYTHING about the future of the company with customers or any reporters. Lenox is DONE but you will not hear anyone at the company admit a word of it. Expect a company in China to purchase the outstanding stock and the name for pennies on the dollar. In the meantime, you will have to go through eBay or Replacements if you want any of it. Enterprising people are getting what they can hoping to turn a handsome profit online.