The former Furniture Brands CEO and CFO are requesting funds from a $15 million insurance policy to cover the costs of ongoing shareholder lawsuits.
Bankrupt Furniture Brands International, whose assets were sold last week, has appointed its top administrative officer to wind down what's left of the company.
The bankruptcy case involving Linwood Furniture was officially closed last week as a judge issued a decree dissolving the business.
KPS Capital Partners is the winning bidder in the auction to acquire Furniture Brands
International's (OTC: FBNIQ) assets.
The federal government will be taking over $270 million of the pension obligations of Furniture Brands International.
Then, there was one. One bidder for Furniture Brands International's assets in the company's bankruptcy auction originally set for today. The auction has been cancelled because only one qualified bid was received by yesterday's deadline.
Columbus, Ohio-based furniture retailer DFW has filed Chapter 11 bankruptcy and has begun closing stores.