Business & Tech
Coupon Book Entertainment Resumes Business Amid Bankruptcy Bid
The potential buyer group includes the son of the Troy-based company's founders.
The company behind the popular Entertainment coupon books resumed business last week as the son of its founders emerged to potentially buy them from bankruptcy.
One of the bidders, HSP-EPI Acquisitions, LLC, whose members includes Lowell Potiker, son of founders Hughes and Sheila Potiker, intends to hire back an undetermined number of employees if successful in the sale, which is expected to take place April 22. Meanwhile, operations at Entertainment have partially resumed as of March 27, including the shipping of book memberships.
According to a filing with the state Workforce Development Agency, Entertainment laid off 369 full-time staff and 298 part-time staff after filing for bankruptcy liquidation on March 12. Of the affected employees, 187 full-timers and 38 part-timers worked in Troy.
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A report published last week in Crain's Detroit suggests that the company has "struggled to adapt to the mobile and digital world."
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