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 | Lane
By Dennis Seid Daily Journal Lane Furniture finished laying off nearly 500 workers at its Saltillo plant last week, and its parent company announced Thursday it was putting Lane’s Verona location on the auction block. Heritage Home Group – the umbrella company for Lane, Broyhill, Thomasville, Drexel Heritage, Maitland Smith and other furniture companies that […]
Daily Journal Northeast Mississippi’s unemployment rate was 8.4 percent in January, up from December’s 7.6 percent rate. But the figure isn’t a cause for alarm. Despite the increase, the rate was almost two percentage points lower than a year earlier. And January’s rate marked the fourth-lowest unemployment rate for the region since 2008. The numbers […]
Ricky and Courtney Ware of Mantee proudly announce the arrival of their son, Tatum Lane Ware. Tatum was born Dec. 31, 2013 at 12:51 p.m. at the Women’s Hospital at North Mississippi Medical Center in Tupelo. He weighed 8-pounds, 15-ounces and was 21-inches long. His grandparents are Leslie and Tracey Harrelson of Vardaman and Richard […]
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 […]
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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