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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 

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