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We've been big fans of DWR for a long time (it's where we first met the ATLA team for the smallest coolest party back in 2006) but can't say that we own very much of what we love. Their Tools For Living line gave us some more affordable and utilitarian options late last year and here's some more great news: DWR is going to be opening up an annex in Palm Springs in two weeks. Why is this such good news? Jump below to find out.
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i do not see how being a public or private company is any sign of its financial health. they started out as a private company, btw. and no one would buy it if they didn't believe they could get a profitable return. investors tend to like making money off of successful ventures. twelveindustries on Feb 5, 2009
DWR is about to be acquired by a private equity company, very soon. I see this happening, as DWR's stock price is getting slaughtered. Opening another brick and mortar is another foolish move. Here's a brief summary of the press release from today:
Feb 2 (Reuters) - Furniture maker Design Within Reach Inc (DWRI.O: Quote, Profile, Research) said it hired investment banking firm Thomas Weisel Partners LLC to help it review strategic options, including a possible sale of the company, boosting its shares 48 percent.
Thomas Weisel Partners will also provide advice on an unsolicited offer recently received by Design Within Reach.
"We have decided to evaluate alternatives that will best serve the interest of all of our shareholders, given our depressed share price," Chief Executive Ray Brunner said in a statement.
The company, whose competitors include Williams-Sonoma Inc (WSM.N: Quote, Profile, Research) and Steelcase Inc (SCS.N: Quote, Profile, Research), said its board has appointed a committee to work with Thomas Weisel Partners to allow its management team to focus on day-to-day operations.
Shares of San Francisco, California-based Design Within Reach rose to 65 cents in trading after the bell. They had closed flat at 44 cents Monday on Nasdaq. (Reporting by Renju Jose in Bangalore; Editing by Pratish Narayanan) Shinichi on Feb 3, 2009