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Article: United states : Lane Bryant parent closes outsourcing deal with Alliance Data.
- Article from:
- TendersInfo
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: shiv03
The parent of Columbus-based retailer Lane Bryant has closed a deal to sell its credit card receivables program and outsource its credit card business to Alliance Data Systems Corp.
Bensalem, Pa.-based Charming Shoppes Inc., which acquired Lane Bryant from Limited Brands Inc. in 2001, first struck the agreement in August with Dallas-based Alliance (NYSE:ADS), which runs a processing operation at Easton that employs about 1,900 workers. Charming Shoppes received about $166 million in gross proceeds from the transaction and netted $136 million.
Through the 10-year deal, Alliance Data takes over credit card operations previously run ...