Ira Siegal Negotiates for Beco's Bedding Biz

December 31, 2003

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NEW YORK — Bedding superstar Ira Siegal, who recently resigned as president of Richloom Home Fashions bedding division, is negotiating a contract for a comparable position with Beco Industries in Montreal.

"I'm leaving my options open for another week or so," Siegal said. "We're a week to 10 days before completing a deal."

Siegal said he is not sure whether he will accept a deal with Beco because he is considering three or four enticing offers from other companies. He declined to name them, saying disclosure of such information could jeopardize negotiations.

Siegal said he is taking about 10 days to ponder his next career move, which may mean founding his own consulting company rather than signing on with any one firm. "I could be opening up my own company," he said. "Designing…consulting for various manufacturers."

Siegal resigned in December from Richloom along with the president of its window division, Wendy Keryk, who had worked there for six years. "After 11 years it was enough," Siegal said. "And I decided I just wanted to do things on my own."

Home Textiles Today reported December 30 that Richloom Fabrics Group President Jim Richman and Vice President Andrew Reisel would oversee the Home Fashions for the short term. Todd Cella, director of sales and merchandise for department and specialty stores — and the third member of the Home Fashions division — will work with Richman and Reisel during the transition.

Cella said the change won't hinder Richloom from meeting its goal of increasing sales by 30 percent in 2004. ''We had been wanting to reorganize anyhow, so this actually makes for a good transition,'' he said. ''It seems somewhat seamless.''


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