Great news as the sale of Rubies to Joel Weinshanker, the head of NECA is approved by a US Bankruptcy Court judge, meaning the costume company will be able to navigate its way through difficult waters and look ahead to a more stable future.
A US Bankruptcy Court judge has approved the sale of a majority of the assets of the Rubie’s Costume Company to an investment group. The new management has said that it will look to leverage the company’s innovation and creative capabilities and utilise its omni-channel retailing capabilities.
Rubie’s will emerge as a newly-formed entity, owned by strategic operator and managing partner Joel Weinshanker, founder of the National Entertainment Collectors Association (Neca), together with funds managed by Atalaya Capital Management LP and members of the Beige family, who had previously been in charge of the company.
Joel Weinshanker commented: “We would like to thank our stakeholders and the hundreds of employees who will be taking the new journey with us. We look forward to elevating the properties of our licensing partners with quality and innovation, and we will strive to provide our retail partners with the best products and the best tools to service their customers. The future is bright at Rubie’s.”
