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Judge Approves Sale Of Iconic Rubie's Costume Company, Allowing 70-Year Old Business To Start Its Next Chapter

·2 mins read

WESTBURY, N.Y., Oct. 2, 2020 /PRNewswire/ -- A U.S. Bankruptcy Court judge approved the sale of a majority of the assets of the Rubie's Costume Company, Inc., the largest costume designer, manufacturer, and distributor in the United States, and several related entities ("Rubie's") to an investment group.

The sale allows the 70-year old company to utilize its best in-class supply chain and its over 1 million square feet of North American manufacturing and distribution space in order to service its many thousands of accounts. As the only truly full-service Halloween manufacturer and distributor in the world, the new management will look to leverage its world-class innovation and creative capabilities and utilize omni-channel retailing capabilities to continue Rubie's best in class performance. Rubie's capacity to distribute thousands of wholesale and over 100,000 B-to-C orders each day is unmatched in the industry.

Founded 70 years ago in Queens, NY by Rubin and Tillie Beige, Rubie's is a market leader of both licensed and proprietary products. In addition to costumes for Easter, Mardi Gras, St. Patrick's Day, Christmas, New Year's Eve, bachelorette parties, and more, its vast assortment of licenses includes "Marvel Comics," "Star Wars," "Jurassic World," "Star Trek," "DC Comics," "Barbie," "Disney," "Elvis Presley," "Stranger Things," and many others. Rubie's costumes are sold by retail partners throughout the U.S., Canada, Mexico, Europe, South America, Asia and Australia.

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), Funds Managed by Atalaya Capital Management LP, and members of the Beige family.

"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," stated Weinshanker.

"The future is bright at Rubie's. We will continue to dominate the Halloween space, and make it even clearer to everyone that there is only one place like home for Halloween- Rubie's," Weinshanker added.

Media Contact: Peter Deleon, pdeleon@necaonline.com

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View original content:http://www.prnewswire.com/news-releases/judge-approves-sale-of-iconic-rubies-costume-company-allowing-70-year-old-business-to-start-its-next-chapter-301145029.html

SOURCE NECA