Furniture Brands Wind Down Inc., the remnant of bankrupt Furniture Brands International, has reached a deal with its creditors and the federal Pension Benefit Guaranty Corp. The settlement, which still needs court approval, has the PBGC reducing its claim against the company from $340 million to $300 million. In November,the PBGC said it would pay […]
Tag Archives | Heritage Home Group
TUPELO – For some laid-off and soon-to-be laid off employees of Lane Furniture Industries, shock and disappointment have given way to some hope. At least for a few. Last month, Lane’s parent company stunned the employees at Lane’s Saltillo plant, announcing it would be closed by March 21. Heritage Home Group said “business circumstances” forced […]
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 […]
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