Enable Holdings Inc. (OTCBB: ENAB) is the leader in excess inventory solutions, linking brand-name sellers with customers around the globe. The company today announced that Tom Petters, chairman and CEO of Petters Group Worldwide, and Ted Deikel, veteran investor and former chairman and CEO of Fingerhut Companies, will purchase 1.5 million shares of the company’s common stock. The news follows the company’s recent announcement of a new business model, gearing up to become a comprehensive, multi-channel asset recovery solutions provider.
Petters said Enable Holdings, formerly uBid.com Holdings Inc., has become a key player in the market, setting itself up for growth. “I see the potential long term value in Enable Holdings and firmly believe in the company’s new business model,” Petters stated in the press release. “They have positioned themselves well in the marketplace and as they grow, I look forward to being part of it.”
The company recently announced a new model featuring the multi-channel lineup of asset recovery solutions through e-commerce and offline platforms. The five-channel purchasing model allows for business-to-business e-commerce, business to consumer e-commerce, auction house e-commerce, fixed pricing, and offline commerce.
“I invested in this company because of their uniqueness and dominance in their space,” Deikel stated. “Over the last 10 years they have acquired a top brand vendor list and a large customer base. I feel these attributes combined with the new multi-channel platform position the company for significant and profitable growth.”
“We spent the first and second quarters of 2008 building our new platforms and we’re very enthusiastic about our new sales channels and the growth opportunities they represent. The benefits will be seen in the third and fourth quarters of this year,” Hoffman stated.
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