Supply Chain Council of European Union | Scceu.org
Operations

Furniture Factory Chain Hits Ch. 11 With $13.5M Asset Bid

by scceu0440

Law360 (November 5, 2020, 10:56 AM EST) — The parent company of retailer Furniture Factory Outlet on Thursday filed for Chapter 11 protection in Delaware bankruptcy court with an up to $13.5 million stalking horse credit bid for its stores to the owner of the American Freight furniture chain.

In its first day motions, Arkansas-based Furniture Factory said a combination of COVID-19 store closures and supply chain problems had caused it to file for Chapter 11 with both debtor-in-possession financing and an asset bid from Franchise Group Inc.

Furniture Factory currently operates 31 furniture and mattress stores in Arkansas, Indiana, Kentucky, Missouri and Oklahoma with about 270 employees. According…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related posts

Milwaukee’s contribution to auto manufacturing includes a century-old factory in Bay View | WUWM 89.7 FM

scceu

Husqvarna workers ‘dropping like flies’ as Aycliffe factory confirms ‘number of’ cases

scceu

Probe ordered into fatal ammonia gas leakage at Goa factory

scceu