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Fingerhut is an American catalog/online retailer. [ 1 ] [ 2 ] Fingerhut is distinguished from other online retailers in that it incorporates a technique known as hire purchase , where customers can pay with credit, and make monthly payments until their orders are paid off.
The new Fingerhut restarted with online and catalog sales in November 2002. In April 2003, The Petters Group, with two minority investors, purchased uBid. The same month, Fingerhut Direct Inc. announced it had obtained a $100 million line of credit to finance inventory and receivables.
Bluestem also owns Fingerhut. In February 2018, Chris Wilson was named President of Orchard Brands with responsibility for the 11 brands that make up the portfolio. [17] On March 9, 2020, the company's parent Bluestem Brands, Inc. filed for Chapter 11 bankruptcy in the United States District Court for the District of Delaware. [18]
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After leaving the wholesale business, they opened Service Merchandise, Inc., the first of what evolved into a chain of catalog showrooms. It opened in 1960 at 309 Broadway in downtown Nashville, Tennessee. [1] Older logo mainly used in the 1970s–1985. During the 1970s and 1980s, Service Merchandise was a leading catalog-showroom retailer.
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