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 […]
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By Dennis Seid Daily Journal United Furniture Industries was the winning bidder for the former Lane Furniture Industries plant in Verona. United offered $1.45 million for the 475,000-square-foot facility. United Furniture Industries and McCormick Drive LLC had bid on the facility, which was a former office and warehouse for Lane. Earlier this year, Heritage Home […]
By Dennis Seid Daily Journal VERONA – United Furniture Industries and McCormick Drive LLC have bid on a former Lane Furniture Industries facility. The companies have offered to buy Lane’s former office and warehouse facility in Verona, according to a bankruptcy filing by FBI Wind Down Inc. United Furniture has a large manufacturing plant in […]
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 […]
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 […]
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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