Founder of Lands’ End to Sell 2.2 Million Shares

From States News Service

The founder of Lands’ End of Chicago may sell up to 2.2 million common shares of the company in an offering worth up to $51.8 million, according to a Securities and Exchange Commission filing.

Gary C. Comer, who is the beneficial owner of 12.9 million common shares or 64.4% of Lands’ End, will see his stake shrink to 43.4% if all the shares are sold, according to the filing.

Comer is chairman and president of Land’s End.

Founded in 1963, Lands’ End is a clothing mail-order company. The firm, which had a net income of $5.9 million for the first three months of this year, has offices in both Dodgeville, Wis., and Chicago.