Lane Furniture Sale Looms
Lane Furniture and its parent company Furniture Brands International could have new owners by Friday afternoon and it looks like that will be KPS Capital partners
A federal bankruptcy judge is expected to rule tomorrow afternoon if it will accept the KPS bid of 280 million dollars for all of Furniture Brands assets, including Lane Furniture.
KPS is the lone group to bid on the bankrupt furniture giant. KPS being the surviving bidder is good news for Lane and its North Mississippi workforce because the KPS partners indicated early on they were only interested in Furniture Brands if Lane remained operational.