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From Home Furnishing Business

Furniture Brands Liquidation Plan Approved

FBI Wind Down Inc., the legal entity for the former Furniture Brands International Inc., said in a regulatory filing Thursday that a U.S. Bankruptcy Court judge had confirmed its liquidation plan.

Furniture Brands once owned and operated three N.C. manufacturers: Broyhill Furniture Industries Inc., HDM Furniture Industries Inc. and Thomasville Furniture Industries Inc.

The plan cancels all existing equity interests, including authorized and outstanding shares, which current shareholders would not receive any compensation for their shares. There were 7.94 million shares outstanding when the plan was confirmed.

A liquidating trustee has been appointed to administer the plan and the liquidating trust. 

Read Entire Story Source: Winston-Salem Journal








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