Lenox Group Hasn’t Found Buyer

Lenox Group Inc., which has been exploring strategic alternatives since Jan. 14, announced on Monday that it had been unsuccessful in finding a buyer for the entire company at what it called an “acceptable” price. The giftware marketer is continuing to explore alternatives with its financial advisor, Berenson & Company LLC.

In May, the company was delisted from the New York Stock Exchange, according to Forbes.com. It had fallen below the exchange’s $25 million minimum capitalization requirement for 30 consecutive trading days. Lenox is scheduled to announce its second fiscal quarter results on August 7, 2008.

In June, David O'Connell resigned as VP of global sourcing. O'Connell had been responsible for all sourcing operations, as well as manufacturing at the company-owned factory in Kinston, North Carolina.

Lenox’s brands include, in addition to its eponymous operations, Department 56, Gorham and Dansk.