Daily News
From Home Furnishing Business
Naked Furniture Heads to Bankruptcy Court
March 25,
2014 by in Bankruptcy, Furniture Retailing, Industry 
The owner of home furnishings retailer Naked Furniture of Ann Arbor, Mich., is scheduled to appear in a bankruptcy hearing Thursday.
Six weeks after abruptly shutting the doors to his Washtenaw Avenue business, Naked Furniture owner Ronald Lafluer is scheduled to appear in a Flint bankruptcy hearing to face his creditors.
The hearing is scheduled for 2 p.m. on Thursday, March 27.
For nearly 15 years Lafluer owned and operated the business, but court records indicated that the Howell resident had between $500,000 and $1 million in debt owed to more than 73 creditors upon his Feb. 17, 2014, Chapter 7 bankruptcy filing.
The bankruptcy will essentially eliminate Lafluer’s debt through a liquidation process in which bankruptcy trustee Sam Sweet collected all of the assets and will sell everything that the court has deemed non-exempt, including his personal and business assets.
Read Entire Story Source: MLive