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 […]
Tag Archives | Lane
Some furniture companies in Northeast Mississippi said they’re able to offer jobs to some of the Lane Furniture Industry workers who will be losing theirs in the next few weeks. On Wednesday, Heritage Home Group, the parent of Lane, announced a company-wide restructuring that would lead to 480 layoffs at Lane’s Saltillo plant by March […]
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 […]
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