From Home Furnishing Business
Linwood Furniture Bankruptcy Closed
The bankruptcy case involving Linwood Furniture was officially closed last week as a judge issued a decree dissolving the business.
A U.S. Bankruptcy Court judge issued a final decree Wednesday that officially ended Linwood Furniture LLC as a business.
The bankruptcy trustee for Linwood filed his final report on the defunct Lexington company Nov. 21, listing $6.35 million in unpaid secured and unsecured claims.
Linwood filed for Chapter 11 protection in March 2012, reporting nearly twice as much debt ($6.89 million) as assets ($3.65 million).
Linwood was formed in March 2006 in large part to follow artist Bob Timberlake’s wishes that his best-selling World of Bob Timberlake collection be made domestically.
Read Entire Story Source: Winston-Salem Journal