Art Van Furniture Company Sold

Lee partners of boston acquired art van in a 612 5 million buyout financed by the company.

Art van furniture company sold.

Art van made it to no. Detroit art van furniture is being sold to a private equity firm in boston the company announced wednesday. In 2017 the company was sold to boston based thomas h. The warren based retailer on wednesday announced a tentative deal to sell to thomas h.

Was an american furniture retail store chain. Wolf furniture is set to be sold as the company that owns it art van furniture winds down operations and begins liquidation levin wolf furniture in ohio and pennsylvania will be sold to. It rose to no. 14 on furniture today s top 100 for 2018 based on 2017 estimated furniture bedding and accessory sales of 1 1 billion at 178 combined stores.

Art van furniture will sell itself to a private equity firm after 58 years of ownership by its founder. On march 5 2020 the company announced it closed all its stores. The deal is reportedly worth 550 million and is expected to close in february. Loves furniture a newly formed royal oak based company has purchased the assets of 27 art van stores and will reopen under the new company name in michigan and five other states.

After private equity firm thomas h. The deal doesn t include those stores real estate most of which was sold off in 2017 as part of the van elslander family s 612 5 million sale of their metro detroit based furniture company to. The latest case in point is art van a michigan based furniture. Elslander died in 2018.

Art van furniture inc. By the time the firm bought the furniture store there were 100 locations across the.