October 10,
2013 by in Bankruptcy, Industry, Legal 
Furniture Brands International is facing a class-action lawsuit from investors who accuse the company and its management of deliberately misleading them about its financial status prior to entering Chapter 11 bankruptcy protection last month.
October 3,
2013 by in Bedroom, Industry, Legal, Product, Sourcing / Importing
The U.S. Department of Commerce has rescinded an antidumping administrative review of 50 Chinese manufacturers of wood bedroom furniture.
October 3,
2013 by in Bankruptcy, Industry, Legal
Oaktree Capital has been edged out as the lead bidder in the bankruptcy auction of Furniture Brands International's assets by KPS Capital Partners who put in a $280 million offer.
September 27,
2013 by in Bankruptcy, Industry, Legal
Calling it an "administrative expense" unauthorized by bankruptcy code, a U.S. Bankruptcy Court trustee has objected to a $6 million break up fee that Furniture Brands wants to pay a private equity group in its Chapter 11 case.
September 17,
2013 by in Bankruptcy, Industry, Legal
Furniture Brands International filed an amended list of its 30 largest unsecured creditors Monday in its Chapter 11 bankruptcy case.
September 6,
2013 by in Industry, Legal
Stung by a lawsuit alleging they engage in deceptive marketing practices, Leon 's Furniture Ltd. and The Brick Ltd. have responded by telling the Competition Bureau that their ads are iconic and any extra fees and taxes on purchases are clearly laid out for customers.
"Leon's has been offering and advertising deferred payment programs to Canadian consumers for more than 25 years. It's 'Don't Pay a Cent Event' and "Ho Ho Hold the Payments' promotions are Canadian icons, which the (Competition) Commissioner now seeks to impugn," according to a document filed in Ontario Superior Court on behalf of the retailers.
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Source: Toronto Star Online
September 6,
2013 by in Industry, Legal
Police in Halifax are investigating a workplace incident after a former Leon's furniture employee told a human rights tribunal a statue was symbolically lynched at a store in Dartmouth, N.S.
Elsworth Bottomley first brought his story to the Nova Scotia Human Rights Commission on Wednesday. He said the statue was just one incident of racial discrimination.
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Source: CBC Newfoundland & Labrador