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From Home Furnishing Business

Naked Furniture Heads to Bankruptcy Court

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 

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