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Furniture Brands reaches pension settlement

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 […]

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PBGC to cover Furniture Brands’ pension plan

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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