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Tag Archives: Furniture Brands International

Deadline set for offers on Tupelo’s Lane Furniture plant

  June 19 is the deadline that has been set for offers on bankrupt Furniture Brand’s 430,000 square-foot manufacturing/distribution facility and data center in Tupelo. Property disposition specialist Hilco Real Estate is marketing the Tupelo plant along with 16 Furniture Brands properties involved in the Furniture Brands International bankruptcy case. The portfolio of Thomasville and Lane real estate ranges from ...

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Heritage Home closing furniture plants

SALTILLO — Heritage Home Group, LLC said yesterday that it will close furniture plants in Saltillo and Thomasville, N.C., as part of a post-bankruptcy restructuring. Heritage told the Mississippi Department of Employment Security that it would cut 480 jobs in Saltillo by March 21. The plant near Tupelo makes upholstered reclining furniture under the Lane name. Heritage told the North ...

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Parent company shutting down trucking firm

TUPELO — Action Transport trucks have been moving Lane Furniture merchandise for more than 40 years. That ends tomorrow. Parent company Furniture Brands International is closing down Action. Anton Nicholas of ICR, a financial communications company representing Furniture Brands, tells the Northeast Mississippi Daily Journal that the company will now use Missoula, Mont.-based Watkins & Shepard Trucking. Nicholas says Furniture ...

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Furniture Brands deal with KPS includes Lane and expected rescue of 1,400 Tupelo jobs

After weeks of back and forth with two prospective buyers, Furniture Brands International has entered into an asset purchase agreement with KPS Capital Partners LP that includes Lane Furniture, which employs 1,400 workers in Tupelo. The St. Louis Business Journal reported the announcement of today’s purchase agreement. Meanwhile, the Northeast Daily Journal reports that KPS Capital has offered to retain ...

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Furniture Brands bankruptcy judge picks higher bid

By Dennis Seid, Daily Journal A U.S. Bankruptcy Court tapped KPS Capital Partners as the stalking horse bidder for Furniture Brands International, which filed for Chapter 11 last month. KPS’ $280 million bid is $20 million higher than the one offered by Oaktree Capital Management, which had initially been favored by Furniture Brands to be its stalking horse bidder. A ...

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Furnituremaker files for bankruptcy, to lay off nearly 1,500 workers

NORTHEAST MISSISSIPPI — A financially troubled St. Louis, Mo., furniture company that operates several facilities in Mississippi is filing for Chapter 11 bankruptcy and is set to lay off its 1,451-person workforce in the state. Furniture Brands International designs, manufactures and markets furniture under a variety of notable brand names, including Broyhill and Thomasville. Its Lane Furniture division operates manufacturing ...

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