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From Home Furnishing Business

Furniture Brands' Canadian Unit Files Bankruptcy

Furniture Brands Canada, a subsidiary of bankrupt Furniture Brands International, has also filed for bankruptcy and laid off all its salaried employees.

Furniture Brands launched the Canadian subsidiary in 2009. Furniture Brands Canada listed liabilities of about $2.1 million and assets of about $409,000 in its bankruptcy notice. Its salaried employees are owed just more than $70,400, according to the notice.

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Source: St Louis Business Journal

 



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