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 | KPS Capital
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 […]
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 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, […]
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