UPDDATE: Jan. 8, 2021:
Loves Furniture, Art Van Successor, Declares Bankruptcy
UPDATE: May 12, 2020:
17 Art Van stores to become Loves Furniture under new owners
UPDATE: Mar. 5, 2020:
Art Van Furniture to close all stores, liquidate
Didn't see this one coming. I thought they were pretty stable."Art Van Furniture's private-equity owner is exploring options that could include a sale and potential Chapter 11 bankruptcy for the retailer as it struggles with disruption in the furniture business, two people familiar with the negotiations told Crain's.https://www.crainsdetroit.com/retail...e-negotiations
"Thomas H. Lee Partners LP, which acquired the Warren-based retailer in 2017 for an estimated $550 million, is working with advisers and creditors to find a buyer, which could include the family of its late founder, Art Van Elslander, one source close to the negotiations who requested anonymity told Crain's."
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