By Dennis Seid Daily Journal TUPELO – United Furniture Industries was the winning bidder for the former Lane Furniture Industries plant in Verona, and hopes to be building furniture inside the plant by next spring. United offered $1.45 million for the 475,000-square-foot facility, along with 90 acres in the Tupelo Lee Industrial Park South. Doug […]
Tag Archives | Furniture Brands
By Dennis Seid Daily Journal United Furniture Industries was the winning bidder for the former Lane Furniture Industries plant in Verona. United offered $1.45 million for the 475,000-square-foot facility. United Furniture Industries and McCormick Drive LLC had bid on the facility, which was a former office and warehouse for Lane. Earlier this year, Heritage Home […]
Daily Journal What remains of bankrupt Furniture Brands International will be overseen by a former officer of the company. Last week, Furniture Brands completed the sale of most of its assets to KPS Capital Partners for $280 million. In the sale on Nov. 25, KPS got Lane, Broyhill, Thomasville, Drexel Heritage, Maitland-Smith, Henredon, Hickory Chair, […]
Daily Journal Furniture Brands International has a new owner, new name and a new chief executive. KPS Capital Partners bought bankrupt Furniture Brands for $280 million on Friday, and on Monday it renamed the company Heritage Home Group. Also, former CEO Ralph Scozzafava is out, as is former Lane Furniture Industries president Dan Masters. Lane […]
Daily Journal The federal Pension Benefit Guaranty Corp. will pay the pensions of some 19,000 current and future retirees of bankrupt Furniture Brands International, the agency said today. KPS Capital Management is the lone bidder to purchase the assets of Furniture Brands for $280 million, a sale that still needs approval by the U.S. Bankruptcy […]
By Dennis Seid Daily Journal TUPELO – Action Transport trucks have been moving Lane Furniture merchandise for more than 40 years, but that won’t be the case after Monday. Parent company Furniture Brands International is shuttering Action, the trucking company subsidiary of Lane. Instead, Furniture Brands will use Missoula, Mont.-based Watkins & Shepard Trucking, said […]
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