Daily News Archive
Brought to you by Home Furnishings Business
November 29,
2007 by in UnCategorized 
By Home Furnishings Business in Furniture Retailing on November 2007
A group of liquidators will pay $48 million for the assets of Levitz Furniture and will effectively shutter the retailer, according to the Associated Press.
The bid by six liquidation firms was the highest received at this week’s court-ordered auction for the rights to conduct going-out-of-business sales at the retailer’s 76 stores in the Northeast and West.
Levitz will get a percentage of the proceeds of the store-closing sales. The final purchase price is subject to adjustments depending on the value ofthe retailer’s inventory.
The six companies pitching in to buy Levitz are Hilco Merchant Resources LLC, HRE Holdings LLC, Tiger Capital Group LLC, SB Capital Group LLC, Planned Furniture Promotions Inc. and Kimco Realty Services.
The New-York based retailer filed Chapter 11 three weeks ago.
November 29,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on November 2007
Kingsdown Inc., Mebane, N.C., has promoted Cindy McIntyre to assistant vice president of support services. She reports to Joe Schmoeller, senior vice president of operations.
In her new position, McIntyre will be responsible for overseeing all consumer, customer and sales support, and will manage the consumer care and post-purchase programs. She also will spearhead Kingsdown’s sales training program.
“Cindy has taken Kingsdown’s customer service and consumer care programs to a whole new level,” Schmoeller said. “She has vastly improved communications between our retail partners and sales associates.”
Eric Hinshaw, chairman and CEO, said McIntyre, who’s been with Kingsdown nine years, developed the company’s In-Home Warranty Kit, taken part in the design of the post-purchase consumer packaging, and has continually brought new ideas and innovations to her areas of responsibility.
“In her new position, Cindy will have the opportunity to continue to broaden these efforts and move Kingsdown to higher levels of service and performance,” Hinshaw said.
Prior to joining Kingsdown, McIntyre’s worked in the legal, multi-media, and software industries, where she held various managerial roles in systems management, business relations, training, and customer service.
November 29,
2007 by in UnCategorized
By Home Furnishings Business in on November 2007
The Rusk Institute of Rehabilitation Medicine of New York University Medical Center has named Jack Hendler, president of the New York-based merger and acquisition firm Net Worth Solutions Inc., co-chairman of the Rusk Leadership Circle. This strategic volunteer leadership group is committed to supporting philanthropy at NYU Medical Center.
Hendler and his co-chair, William Constantine, managing director, Legg Mason Investment Counsel, will be inviting select individuals to participate in the Rusk Leadership Circle, which will be fully formed and operational by early 2008.
Hendler will work to generate support for the capital campaign within the fashion and finance industries. His firm, Net Worth Solutions, specializes in providing merger and acquisition services for the fashion industry, including all apparel, textiles, home furnishings, footwear, leather goods, jewelry and toys.
“People in these industries tend to be very generous and energetic about supporting good causes,” Hendler said. “I look forward to identifying and working with industry colleagues who recognize the importance of the Rusk Institute and its vital mission in helping our community.”
The Rusk Leadership Circle will spearhead a multi-million dollar capital campaign to address facility and program needs at the Rusk Institute of Rehabilitation Medicine during the next decade. The goal is to ensure that the Rusk Institute continues to maintain and expand its position as a global leader in rehabilitation medicine.
The Rusk Institute was founded in 1948 by Dr. Howard Rusk, whose innovative techniques were developed to help injured soldiers returning from World War II service.
November 29,
2007 by in UnCategorized
By Home Furnishings Business in Bedding on November 2007
International Bedding has elected new members to its board of directors.
Thomas J. Allison has been elected chairman of the board. With more than 25 years of business management experience, Allison is currently an executive vice president and senior managing director of Mesirow Financial Interim Management.
Joining Allison on the board are Robert E. T. Lackey and Jeffrey W. Maillet. Lackey has more than 30 years of business and legal experience, most recently as general counsel of Comdisco Holding Co. Maillet is the founder of Nobel Asset Management.
“This is a very positive event for the over 500 international Bedding employees, our retail partners and our suppliers who all have been very supportive during the past several months,” said Tony R. Smith, chief executive officer of International Bedding. “The senior management team and I are pleased to have the opportunity to work with such an outstanding board of directors.”
Fort Lauderdale, Fla.-based International Bedding was acquired earlier this year by a Sun Capital Partners affiliate.
“For more than 30 years International Bedding has earned a reputation for providing high quality products that offer extraordinary consumer value,” Allison said. “Additionally, their strategic distribution has enabled the company to create very strong and long lasting partnerships with their retailers. The new board members and I are honored to work with International Bedding’s experienced senior management team and employees. We look forward to providing the support and additional resources to move the company forward and strengthen its leadership position.”
November 28,
2007 by in UnCategorized
By Home Furnishings Business in Las Vegas on November 2007
Furniture designer Vladimir Kagan will kick off the new “Design Icon” lecture series during the winter Las Vegas Market. Kagan will speak, Jan. 31, 2-3:30 p.m., in the World Forum on the 16th floor of Building B on the World Market Center campus.
Kagan, designer of the “Serpentine Sofa,” the swiveling “barrel chair,” and sculpted wood and glass tables, also recently volunteered his services as the lead interior designer for the Junior League of Las Vegas’ Mid-Century historical preservation project, the Morelli House, which he’ll visit from 4 to 6 p.m. after his lecture for a book signing and open house. The historic home is located at 861 Bridger Street in Las Vegas.
“Vladimir Kagan is a treasure in the home furnishings industry and a dear friend to Las Vegas Market,” said Dana Andrew, vice president of marketing and public relations for World Market Center. “It was our pleasure to connect Mr. Kagan with the Junior League, and we are so incredibly pleased to have his designs showcased in a historic home right here in Southern Nevada that happens to be the headquarters for an outstanding group like the Junior League.”