The Entertainment fundraising coupon book is back for 2014 after the company filed for Chapter 7 bankruptcy before being rescued by the son of the original founders. According to reports in Detroit area newspapers, the 50-year old company has been acquired by HSP-EPI Acquisitions, LLC, a group led by Lowell Potiker, son of company founders Hughes and Sheila Potiker.
The coupon book fundraiser company had suddenly shut down on March 12, 2013 and after filing a bankruptcy petition to liquidate the company, laid off most of its employees. The Entertainment Publications, LLC then restarted operations on March 27, 2013 after several investors showed interest in the company as a going concern.
Finally on April 23, 2013 the sale of Entertainment Publications, LLC to its new owners, HSP-EPI Acquisitions, LLC was finalized.
“This acquisition was of great importance to me and my family not just because it continues the legacy of the company’s founders, my parents, but that the Entertainment product is as valuable and relevant today as it was in 1962,” says Lowell Potiker, who also indicated that his sister and brother, Jori Potiker and Brian Potiker, have invested in the Entertainment acquisition as well.
““The chapter 7 filing was a difficult time for our employees, business partners and consumers,” says Potiker. “It is unfortunate that despite delivering products to millions of consumers each year, the bankruptcy filing occurred not due to any issue related to company sales, but due to shareholder financing at the ownership level.”
The fundraising coupon book is a popular product with schools and youth sports teams for raising funds. The Entertainment coupon book fundraiser was an annual offering for many groups because it delivered good value to their supporters.
The Entertainment coupon book features hundreds of discount deals from major national chains such as McDonald’s, Subway, Sonic and others that delivered significant savings. Besides discounts from favorite restaurants, theaters, and shopping venues, the Entertainment book also offers discounts for online shopping. They have also added a mobile version of the coupon book where you can access the coupon offers on a smartphone for redemption at various merchants.
So, its good to see that this longtime fundraising favorite will be back for 2014 helping groups raise funds with a great value proposition.