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Article: CHARMING SHOPPES, ALLIANCE DATA COMPLETE CARD AGREEMENT.(News)

Article from:
Cardline
Article date:
November 6, 2009
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Alliance Data Systems Corp. has acquired Charming Shoppes Inc.'s credit card receivables in an agreement completed today, according to Bensalem, Pa.-based Charming Shoppes. The companies also entered into a 10-year operating agreement in which Alliance Data will operate the retailer's private-label card programs. Charming Shoppes received roughly $136 million for the sale of its private-label credit card portfolio. Alliance Data assumes the operation of Charming Shoppes' private-label card programs for its Lane Bryant, Fashion Bug and Catherines brands. Alliance Data will provide such services as account acquisition and activation, card authorization, card issuance, ...

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