Coupon Book Entertainment Ushers in a New Era

To say it's a time of change for Entertainment Promotions CEO Lowell Potiker and his staff, headquartered in Troy, is an understatement.

In just the first three quarters, the company behind the popular discount, promotion and coupon provider saw its previous ownership file a Chapter 7 bankruptcy petition, the children of its founders make a successful bid to purchase it, and leave its former headquarters on Stephenson Highway.

Dignitaries from around the state joined Potiker, the son of Entertainment founders Hughes and Sheila Potiker, and many members of its re-hired staff on Friday to cut the ribbon at its new headquarters on Crooks Road.

"This thing was astronomical in terms of its speed of completion," Potiker said to a group of about 100 who had gathered outside the new location. "Everybody pitched in."

Operations at Entertainment, which was founded in 1962, and previously owned by M.H. Equity Investors in Indianapolis, temporarily ceased after filing for bankruptcy liquidation on March 12. According to a filing with the state Workforce Development Agency, 187 full-time workers and 38 part-timers working in Troy were laid off.

Potiker, who leads the group HSP-EPI Acquisitions, LLC, which includes his brother and sister Jori Potiker and Brian Potiker, told Patch that he had attempted to purchase the company in January when bankruptcy appeared imminent. The sale at auction, for $11.3 million, took place in April.

Since then, Potiker said, he has become involved in the hands-on aspect of his parents' business and Entertainment hasn't missed a beat. However, it hasn't necessarily been easy.

"We hired all the employees back, got everybody to come back, negotiated with all of the vendors, got the company up and running, but we had to build the Entertainment books with a publishing system that wasn't working yet," he said. 

"The lease was signed on this office on July 23 and we moved in on September 27. It's been fast, but we got the books out to the people who needed them."

Lieutenant Governor Brian Calley, Oakland County Deputy Executive Matt Gibb and Troy Mayor Dane Slater were among those to welcome back the group as it moves on into what Potiker deemed a new era. 

"The transition to digital and mobile is just reaching stride and we're in front of that. We've got new mobile apps and new directions we're going in. It's an exciting time in the business," he said.