Hanover Direct Announces the Filing of a Form 12b-25 Notification of Late Filing with the Securities and Exchange Commission and

Hanover Direct Announces the Filing of a Form 12b-25 Notification of Late Filing
with the Securities and Exchange Commission and the Postponement of its Fiscal
Year 2003 Operating Conference Call 


EDGEWATER, N.J., March 26  /PRNewswire-FirstCall/ -- Hanover Direct, Inc.  today
announced that it has filed a Form 12b-25 Notification of Late Filing with the
Securities and Exchange Commission extending the deadline for filing its Annual
Report on Form 10-K for fiscal year ended December 27, 2003 up to 15 calendar
days.

The delay in filing the 2003 Annual Report is due to the inability of the
Company's independent auditor to complete its audit of the Company's financial
statements in a timely manner.  The Company recently re-examined its credit
facility with Congress Financial Corporation entered into in November 1995 and,
based on EITF Issue No. 95-22, "Balance Sheet Classification of Borrowings
Outstanding under Revolving Credit Agreements that Include Both a Subjective
Acceleration Clause and a Lock-Box Arrangement," and certain provisions in the
credit agreement, determined that it is required by EITF 95- 22 to reclassify
the loan facility from long-term to short-term debt, although the facility does
not mature until January 31, 2007.  The Company and its independent auditors
require additional time to calculate accurately the effect of the
reclassification of the loan facility from long-term to short- term debt on its
historical financial statements.  The Company will file its Form 10-K forthe
fiscal year ended December 27, 2003 no later than the close of business on April
9, 2004.

The conference call with the management of Hanover Direct, Inc. to review the
fiscal year 2003 operating results scheduled for March 29, 2004 has been
cancelled and has been postponed to a later date following the filing of the
2003 Annual Report.

About Hanover Direct, Inc.

Hanover Direct, Inc. (AMEX:HNV) and its business units provide quality, branded
merchandise through a portfolio of catalogs and e-commerce platforms to
consumers, as well as a comprehensive range of Internet, e-commerce, and
fulfillment services to businesses. The Company's catalog and Internet portfolio
of home fashions, apparel and gift brands include Domestications, The Company
Store, Company Kids, Silhouettes, International Male, Scandia Down, and Gump's
By Mail. The Company owns Gump's, a retail store based in San Francisco. Each
brand can be accessed on the Internet individually by name. Keystone Internet
Services, LLC (http://www.keystoneinternet.com/), the Company's third party
fulfillment operation, also provides the logistical, IT and fulfillment needs of
the Company's catalogs and web sites.  Information on Hanover Direct, including
each of its subsidiaries, can be accessed on the Internet at
http://www.hanoverdirect.com/. 

DATASOURCE: Hanover Direct, Inc.



CONTACT:  Charles E. Blue, S.V.P. & Chief Financial Officer, Hanover

Direct, Inc., [phone]; or Rich Tauberman, MWW Group, [phone],

for Hanover Direct



Web site:  http://www.hanoverdirect.com/ 

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