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Who Is the Owner of Art Van Furniture?

FAQs Jackson Bowman August 19, 2022

In March 2017, Art Van was acquired by private equity firm Thomas H. Lee Partners (THL) for $617 million.

Who bought art vans?

The Archie A. Van Elslander Trust received $529 million from the sale, and heir-controlled companies received more than $75 million, according to the lawsuit. An additional $8 million went to Gary Van Elslander, $2.5 million to David Van Elslander and $6 million to former Chief Executive Officer Richard Kim Yost.

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 measure that is 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 happened to Art Van Furniture in Michigan?

Art Van Furniture filed for Chapter 7 bankruptcy in early March 2020 just as the COVID-19 pandemic hit Michigan. Nearly 190 Art Van stores have been closed and around 3,000 workers in nine states have lost their jobs.

Can you still buy Art Van Furniture?

The last remaining Art Van Furniture stores closed last year with everything must-go sales organized by Value City Furniture’s parent company, American Signature.

Who took Art Van warranty?

Here are the details: Gardner-White allows former Art Van customers to enroll in our two-year benefits program for a small fee.

Why did Art Van Furniture stores close?

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

When did art van go out of business?

What happens to my Art Van warranty?

Art Van Furniture guarantees that the company will no longer function. Updated March 06, 2020 9:39 am | Published: 05.03.2020, 15:23

What happened to Detroit sofa company?

Breaking News: The Detroit Sofa Company is now available at select Art Van Furniture stores! Detroit-inspired designs, the finest American craftsmanship and a shocking value – with 12 styles, 28 body fabrics and 34 accent fabrics.

Where is Detroit sofa company made?

Plus, this sofa is made in the USA!

References:

  1. https://www.mlive.com/public-interest/2022/03/two-years-after-art-van-furniture-collapsed-lawsuit-seeks-to-reclaim-millions-from-the-founding-family.html
  2. https://www.mlive.com/news/2020/05/some-art-van-stores-could-reopen-under-new-ownership.html
  3. https://www.freep.com/story/money/business/2022/03/22/art-van-furniture-bankruptcy-trustee-heirs/7125793001/
  4. https://www.freep.com/story/money/business/2021/02/19/art-van-elslander-family-buys-naming-rights/4504651001/
  5. https://www.gardner-white.com/blog/2020/03/gardner-white-is-offering-warranties-to-customers-who-lost-theirs-in-the-art-van-liquidation/
  6. https://www.thegazette.com/business/coralville-art-van-furniture-will-remain-open-chain-to-liquidate-its-own-stores/
  7. https://en.wikipedia.org/wiki/Art_Van_Furniture
  8. https://www.mlive.com/news/2020/03/art-van-furniture-warranties-to-be-defunct-after-company-goes-out-of-business.html
  9. https://www.facebook.com/artvanfurniture/posts/breaking-news-the-detroit-sofa-company-is-now-in-select-art-van-furniture-stores/10155196179453625/
  10. https://www.wayfair.com/keyword.php?keyword=detroit+sofa+company

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