Harry & David set to exit bankruptcy today.

Byline: Greg Stiles

Sept. 13--Just over a year ago, former Harry & David Chief Executive Officer Steve Heyer laid out an array of new initiatives he was instituting, hoping to snap a string of disappointing holiday selling seasons.

The venerable gourmet food and gift company needed more than sizzling holiday sales, Heyer said. Harry & David needed to infiltrate colleges and upscale markets to land a new generation of customers. Near the end of a lengthy interview, the firebrand Heyer pondered the future and admitted somewhat stoically: "I don't know if we're got enough time to make it work." Replacing managers and launching new strategies indeed failed …