September 12,
2013 by in Bankruptcy, Industry 
Furniture Brands International won court approval of as much as $115 million in bankruptcy financing to help fund operations as it pursues a sale of most of its assets to Oaktree Capital Management for about $166 million.
A rival bidder-KPS Capital Partners-appeared in court Wednesday saying it would be interested in buying Lane as part of the deal. An attorney for KPS said the company would stay active as the bankruptcy proceeded and could come forward with a better DIP plan.
An Oct. 2 hearing is set to determine approval of the full $140 million plan.
...
Read Full Article...
Source: Bloomberg
September 12,
2013 by in Industry, Retail Closing
Grapevine Furniture is closing.
The new and used furniture business that became a landmark at 829 Portage St. was to close this Saturday after 25 years in business without a going-out-of-business sale or any fanfare.
But with nearly all its inventory gone, owner Scott Jett may close the business sooner.
...
Read Full Article...
Source: Kalamazoo Gazette
September 11,
2013 by in Business Strategy, Industry, Market
The International Casual Furnishings Association has recognized 11 outdoor home furnishings and accessories vendors for outstanding product designs.
September 11,
2013 by in Executive Changes, Industry
Industry veteran Ken Mullinax has joined Englander Sleep Products as vice president of sales and marketing for Englander Northwest, Tualatin, Ore.
September 11,
2013 by in Business Strategy, Industry
RTA furniture vendor Walker Edison has made the Utah Business "Fast 50" list of fastest growing private companies in Utah.
September 11,
2013 by in Green, Industry
A Sustainable Furnishings Council webinar this week will examine consumer attitudes toward "green" home furnishings.
September 11,
2013 by in Bankruptcy, Industry
The list of top 30 unsecured creditors in the Furniture Brands International (OTC: FBNIQ) Chapter 11 bankruptcy case has been released.