The sale was approved Feb. 1 by a bankruptcy court judge overseeing Art Van Furniture’s still-ongoing liquidation case. ... 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.
What is happening with Art Van Furniture?
Last week, the company announced it is closing its doors forever. It is now in the process of a full liquidation and becoming yet another footnote and cautionary tale for the retail industry.
Why did Art Van Go out of business?
Warren — Art Van Furniture, a Metro Detroit institution and one of the largest furniture retailers in the Midwest, will close all of its company-owned stores and liquidate its inventory after struggling with changing furniture-shopping habits and heavy debt following its acquisition by a private equity firm three years ...
Is art van going back into 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.
Who bought Art Van 2020?
US Realty Acquisitions LLC , founded by investors Jeff Love, acquired the assets and leases of the Art Van stores out of U.S. Bankruptcy Court in Delaware for $6.9 million, according to court records, and was finalized Tuesday.
Who owns Levin Furniture?
Pittsburgh’s Levin Furniture, acquired in late 2017 by Art Van Furniture LLC of Warren, Michigan , is back in family hands. Robert Levin came out of retirement to buy the company founded by his grandparents 100 years ago.
Who bought art vans House?
Art Van began its final sale Friday. The Warren-based retailer’s sudden announcement that it would wind down operations comes only three years after its late founder, Art Van Elslander, sold the company to a Boston-based private equity firm, Thomas H. Lee Partners LP , in an estimated $550 million deal.
What happens to my Art Van warranty?
Art Van Furniture warranties to be defunct after company goes out of business . ... 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.
Is Scott Shuptrine still in business?
Village Scott Shuptrine, Woods PureSleep stores to be shuttered. As part of the closing of all Art Van Furniture stores nationwide, Scott Shuptrine Interiors in the Village has begun liquidation sales . The furniture and home décor store is located in the former Borders bookstore building.
Is Art Van still alive?
Art Van Elslander, the man behind one of Michigan’s best-known furniture stores, died Monday at the age of 87 . Van Elslander founded Michigan-based Art Van Furniture in 1959, opening a single store on Gratiot Avenue in what is now Eastpointe.
Did Value City Buy Art Van?
The store, at 8748 W. Saginaw Hwy., was one of six Art Van store properties throughout the state acquired by Value City in June , Chief Marketing Officer Alejandro Alvarez said in an email. The new properties include former Art Van stores in Chesterfield and Clinton townships, Flint, Novi and Traverse City.
What furniture Brands did Art Van carry?
Founded by Art Van Elslander and based in Warren, MI, Art Van Furniture opened in 1959. This company offers everything from home and office products to bedding and mattresses. The retailer often has deals on brands like Ashley Furniture, La-Z-Boy, and Detroit Sofa Company .
Loves Furniture was born this summer from the remnants of Art Van Furniture , once the Midwest’s top furniture and mattress retailer. Art Van collapsed into bankruptcy liquidation in March, just three years after its sale by the Van Elslander family to a private-equity firm called Thomas H. Lee Partners.
Does Levin Furniture love now?
John and Matt Schultz are co-CEOs at the new Levin Furniture, which now has 21 furniture and mattress stores , 10 of which are in Ohio. Love’s Furniture in September opened a store in North Fayette at The Pointe in Robinson shopping complex and the former Levin’s store in Peters Township.
Is love furniture Levin?
Robert Levin strikes an arrangement to lease back five former Levin Furniture stores as Michigan-based Loves Furniture & Mattresses exits the Pittsburgh market. ... All five outlets originally were Levin retail stores — and the new deal restores the furniture chain’s original thumbprint in western Pennsylvania.
What is going on with loves furniture?
A lot of factors led to this company filing for bankruptcy . ... Loves Furniture recently filed for Chapter 11 bankruptcy protection, making it the latest retailer to suffer the effects of COVID-19, lockdowns, and the related battering that the economy has taken.
