Russ Berrie Brand Licensee Files for Bankruptcy

Summary

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The company that bought the license to use the Russ Berrie brand name to sell gift items has filed for Chapter 7 bankruptcy, meaning it has ceased operations and will be forced to sell assets. The company also closed a Cranbury warehouse. The company, The Encore Group, which had offices in Wayne, as well as in other states, terminated 247 workers, including employees at the Cranbury facility, as well as sales representatives.

The Encore Group, which also operated divisions under the titles The Russ Group Inc. and Russ Berrie U.S. Gift Inc., listed assets of $100,000 to $500,000 and debts of $10 million to $50 million in a filing Thursday with the federal Bankruptcy Court in New Jersey.

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Russ Berrie Brand Licensee Files for Bankruptcy

The company built by Russ Berrie, a w...

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