Linwood Furniture to Liquidate

September 4, 2012  by in UnCategorized   

By Aggregated Content in Bankruptcy on September 5, 2012 from http://www.the-dispatch.com/article/20120905/News/309059974/-1/news?Title=Linwood-Furniture-to-be-liquidated&tc=ar

Linwood Furniture is no more as a judge in U.S. Middle District Bankruptcy Court approved converting the company from a Chapter 11 bankruptcy to Chapter 7 after a hearing Wednesday afternoon.

After filing for Chapter 11 bankruptcy in March and attempting to reorganize the company, Linwood executives took the next step and put the company up for public auction Aug. 9. The company noted that it had $6.9 million in debt but only $3.7 million in assets.

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