Is Art Van going out of business in Michigan?
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Is Art Van going out of business in Michigan?
Art Van Furniture filed for Chapter 11 reorganization bankruptcy on March 9 and the case later converted into a Chapter 7 liquidation. All of its 169 locations in multiple states closed, and about 1,000 Michigan employees were laid off.
Is Art Van closing?
The last remaining Art Van Furniture stores closed last year with everything-must-go sales that were put on by American Signature, the parent company of Value City Furniture.
Is Loves Furniture Art Van?
Real estate veteran Jeff Love created Loves Furniture last year after two financial firms approached his company about starting up a new furniture retailer to fill spaces vacated by Art Van in its liquidation last spring.
Who took Art Van warranty?
Here are the details: Gardner-White is enabling former Art Van customers to opt-in to our 2-year benefit program for a minimal fee.
Why did loves go out of business?
Loves “has too much inventory and too little cash to operate its stores,” the court filings say. On Dec. 28, Loves ran out of money to pay Penske, the filings say. The following day, Penske removed its employees and trucks and impeded Loves from fulfilling some orders.
What happens to Art Van Furniture?
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.
Is Art Van still honoring warranties?
Art Van Furniture warranties to be defunct after company goes out of business. Updated: Mar. 06, 2020, 9:39 a.m. | Published: Mar.
Who is the CEO of loves furniture?
Loves Furniture went into business in late summer after a Texas-based private equity firm, US Assets Inc., whose founder and CEO is named Jeff Love, bought 27 shuttered Art Van stores in Michigan, plus 10 other Art Van and Levin and Wolf locations in other states.
What will happen 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 will happen to my Art Van credit card?
Customers who have a balance on their Art Van credit card are still responsible for paying the bill, Langton said. As the company goes out of business, those payments will eventually be redirected to a court or trustee.
Who took over Wolf Furniture?
Loves Furniture has acquired the inventory and assets of 27 stores under the Art Van Furniture, Levin Furniture and Wolf Furniture brands. The stores, which are located in Michigan, Pennsylvania, Ohio, Illinois, Virginia and Maryland, will be re-branded as Loves Furniture.
Did loves go out of business?
There was some hope for many of those employees and customers when Loves Furniture took over several dozen of those stores last summer. But pandemic-related supply issues plagued the new business along with delivery problems. Loves filed for chapter 11 bankruptcy on January 6, 2021.
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.
What really happened to Art Van Furniture?
