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 16,
2013 by in Furniture Retailing, Industry, Web Retail
The Furniture Training Co. has updated training modules in the furniture product knowledge section of its online sales training courses.
September 16,
2013 by in Executive Changes, Industry
DeLandis Furniture U.S. has named industry veteran Chuck Rudwall president of its U.S. division.
September 16,
2013 by in Industry, Special Events
National buying group Furniture First will host its 2014 Symposium in Fort Lauderdale May 12-14.
September 16,
2013 by in Bankruptcy, Industry
Bankrupt Furniture Brands International has asked a federal judge in Delaware to let it pay more than $5 million in bonuses to 55 employees, including seven company insiders, if its assets are successfully sold at auction.
The manufacturer, which hasn't made a profit in six years, said the bonuses would be paid for reaching incentives that "will not be easy."...
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Source: Law360
September 16,
2013 by in Bankruptcy, Industry
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
September 16,
2013 by in Industry, Obituaries
Robert S. Fogarty, Jr. died in the company of his family on Sept. 11 due to complications from Myasthenia Gravis and cancer.
He was a loving husband and family man, a loyal patriot, a scholar, an accomplished basketball player, and a titan of American industry. He was pre deceased by his sister Catherine F. Whalen and his parents Robert S. and Christine Fogarty. His wife Harriett, daughters Paula and Lea, and son Dean survive him.
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Source: South Hill Enterprise