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Further delays in financial statements says Hanvoer Direct
10 Aug '05
2 min read
Vertically integrated general merchandise brands item provider Hanover Direct Inc announced there will be a further delay in completing the audit of the Company's 2004 fiscal year-end financial statements.
As a consequence, the Company is not currently in a position to file its Annual Report on Form 10-K for the year ended December 25, 2004 or its Quarterly Reports on Form 10-Q for the fiscal quarters ended September 25, 2004 and March 26, 2005 and will not be able to file its Form 10-Q for the second fiscal quarter of 2005 on a timely basis as previously anticipated.
Wayne Garten, the Company's Chief Executive Officer, commented, "They are extremely disappointed that further delays in completing the year-end audit process prevent us from filing their 2004 10-K and all past due 10-Q's."
They believe that the Company has completed its work and they continue to cooperate fully with their auditors and are assisting them in every way possible. They are awaiting their final review and sign off on the 2004 audit.
It has been and continues to be their intention to file all financial statements as soon as possible and they will continue to devote all available resources until they become current in their filings.
New Jersey based Hanover Direct Inc provides quality, branded merchandise through a portfolio of catalogs and e-commerce platforms to consumers. The Company's portfolioof home fashion and apparel catalogs and Internet websites include Domestications, The Company Store, Company Kids, Silhouettes, International Male and Undergear.
The Company also manufactures Scandia Down branded comforters that sell through specialty retailers and provide product fulfillment, telemarketing, information technology and e-commerce services to third party direct marketing businesses.
As a consequence, the Company is not currently in a position to file its Annual Report on Form 10-K for the year ended December 25, 2004 or its Quarterly Reports on Form 10-Q for the fiscal quarters ended September 25, 2004 and March 26, 2005 and will not be able to file its Form 10-Q for the second fiscal quarter of 2005 on a timely basis as previously anticipated.
Wayne Garten, the Company's Chief Executive Officer, commented, "They are extremely disappointed that further delays in completing the year-end audit process prevent us from filing their 2004 10-K and all past due 10-Q's."
They believe that the Company has completed its work and they continue to cooperate fully with their auditors and are assisting them in every way possible. They are awaiting their final review and sign off on the 2004 audit.
It has been and continues to be their intention to file all financial statements as soon as possible and they will continue to devote all available resources until they become current in their filings.
New Jersey based Hanover Direct Inc provides quality, branded merchandise through a portfolio of catalogs and e-commerce platforms to consumers. The Company's portfolioof home fashion and apparel catalogs and Internet websites include Domestications, The Company Store, Company Kids, Silhouettes, International Male and Undergear.
The Company also manufactures Scandia Down branded comforters that sell through specialty retailers and provide product fulfillment, telemarketing, information technology and e-commerce services to third party direct marketing businesses.
Hanover Direct Inc
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