Is Art Van Furniture out of business?

Is Art Van Furniture out of business?

Art Van Furniture filed for what became a Chapter 7 liquidation bankruptcy in early March 2020, just as the COVID-19 pandemic arrived in Michigan. Nearly 190 Art Van stores closed and roughly 3,000 workers in nine states lost jobs.

Are all Art Van locations closing?

There were 97 Art Van stores in Michigan when the company filed for Chapter 11 bankruptcy in early March – a move expected to close all company-owned locations in Michigan, Illinois, Indiana, Missouri and Ohio. The company began liquidation sales two days before filing for bankruptcy.

What company is taking over Art Van?

Gardner White will operate 13 stores by early March. It has taken over six former Art Van stores and reopened them in Canton, Rochester Hills, Saginaw and Shelby Township.

Is Art Van coming back in business?

Art Van’s furniture stores are no more, but the family has bought back the brand name out of the bankruptcy of the company to which it had sold the chain. The Van Elslander family successfully acquired the Art Van Furniture name out of bankruptcy this month.

Why is Art Van closing?

‘Despite our best efforts to remain open, the company’s brands and operating performance have been hit hard by a challenging retail environment,” Diane Charles, Art Van Furniture spokeswoman, said in a statement.

Why did Art Van close down?

It is always difficult to transition from a family-owned business, but there was also significant turnover in the executive ranks by failing to secure the team (much of it non-family) that had achieved the prior success.

What happens to my art van warranty?

Art Van Furniture warranties to be defunct after company goes out of business. Updated: Mar. 06, 2020, 9:39 a.m. | Published: Mar. 05, 2020, 3:23 p.m.

What is the new name of Art Van?

Loves Furniture
Many of the old Art Van stores were later reborn in late summer and early fall as Loves Furniture, an entirely new company created by a Texas private-equity firm.

What year did Art Van Furniture go out of business?

At the time (mid 2017), the company was riding high: It was immensely profitable, growing fast, entering new markets, and looked poised to double its growth and cement its standing as a regional powerhouse in the furniture industry. Last week, the company announced it is closing its doors forever.

What happens to my Art Van warranty?

What was the furniture store that went out of business?

Richard Levitz founded the first Levitz Furniture store in Pennsylvania in 1910. The company expanded throughout the US, but didn’t quite survive for 100 years. The struggling retailer liquidated for good in 2008, felled by what the Washington Post described as “competitors and heavy debt.”

Is Art Van still in business in Michigan?

It’s been two years since Art Van Furniture collapsed and held “going out of business” sales at its 200 stores. Now, a bankruptcy trustee is seeking to recoup millions from the founding family who sold the Michigan-based furniture retail chain in 2017.

Is Art Van honoring their warranties?

What year did Art Van Go out of business?

Who is selling Art Van Furniture?

Thomas H. Lee Partners
Warren-based Art Van Furniture sold itself in early 2017 to Boston-based private equity firm Thomas H. Lee Partners in a $612.5 million deal that included the sale of Art Van stores’ real estate to new landlords, who began to charge the stores rent.

Can I still use my Art Van warranty?

To be eligible, you just need to show documentation (paper or electronic) that you purchased from Art Van within the past two years. Our warranties are backed by an outside company, so it doesn’t matter what happens to Gardner-White, these warranties will be honored. Besides, we aren’t going anywhere.

Is Art Van still alive?

Archie A. Van Elslander, who founded Michigan-based Art Van Furniture and donated millions of dollars to causes he championed, died early Monday from complications related to lung cancer. He was 87.

Who bought Art Van 2020?

In May 2020, 24 Art Van stores and three Wolf stores were acquired by Texas-based private equity firm U.S. Assets, and reopened later that year under the name Loves Furniture & Mattresses.