Video: New Ownership for Furniture Brands
NORTH MISSISSIPPI – (WCBI) A happy Thanksgiving for workers at Lane Furniture as new owners are found for Lanes’ parent company Furniture Brands International.
A federal bankruptcy judge has approved the sale of Furniture Brands to KPS Capital Partners for $280 million. The KPS purchase is key for Lane because their bid specified it was only interested in Furniture Brands if Lane was kept open.
Furniture Brands says the new owners have offered jobs to virtually all of Furniture Brands current workers, except for a few executives, including Furniture Brand’s CEO and Lane’s President. The sale is expected to be finalized in the next few days. KPS has changed Furniture Brand’s name to Heritage Home Group.