Tuesday, July 31, 2018

Furniture seller Heritage Home files for bankruptcy

Retail Dive
Furniture retailer and wholesaler Heritage Home Group, which owns the Thomasville & Co. retail and wholesale brand, filed for Chapter 11 bankruptcy this week, hoping to sell off assets in the court process.

The company, formed out of the Furniture Brands' 2013 sale in bankruptcy to private equity company KPS Capital Partners, faced years of declining sales leading up to bankruptcy, Chief Financial Officer Robert Albergotti said in a court filing. Sales for the first five months of 2018 were down 27% year over year, he added.. . . more