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Warren-based Art Van Furniture sold itself in early 2017 to Boston-based private equity firm Thomas H. Lee Partners in a $612.5 million deal that included the sale of Art Van stores’ real estate to new landlords, who began to charge the stores rent. Art Van Eslander died a year later at age 87.
Did loves furniture buy out Art Van?
The Michigan-based company, founded in the 1950s, was a top furniture and mattress retailer in the Midwest. Over the summer, US Assets Inc., whose founder and CEO is named Jeff Love, swooped in and purchased 37 former Art Van, and Levin and Wolf stores. Loves Furniture stores began opening in late summer 2020.
Is Art Van Furniture coming back?
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.
Is Scott Shuptrine still in business?
Three-store Scott Shuptrine will close after liquidation sales, the apparent victim of tough times for high-end furniture merchants. After the sale, the family will look to sell the 31,000-square-foot store in Novi and the 160,000-square-foot showroom and warehouse in Troy, both in the greater Detroit market.
Who is loves Furniture owned by?
Loves Furniture went into business in late summer after a Texas-based private equity firm, US Assets Inc., whose founder and CEO is named Jeff Love, bought 27 shuttered Art Van stores in Michigan, plus 10 other Art Van and Levin and Wolf locations in other states.
Is Levins love now?
Loves Furniture has acquired the inventory and assets of 27 stores under the Art Van Furniture, Levin Furniture and Wolf Furniture brands. The stores, which are located in Michigan, Pennsylvania, Ohio, Illinois, Virginia and Maryland, will be re-branded as Loves Furniture.
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.
Who founded Art Van Furniture?
Archie Van Elslander, the founder of Art Van Furniture, has died at age 87. Company spokeswoman Diane Charles said Van Elslander, known as Art Van, had cancer.
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.
What happened to Art Van Furniture?
Warren-based Art Van Furniture sold itself in early 2017 to Boston-based private equity firm Thomas H. Lee Partners in a $612.5 million deal that included the sale of Art Van stores’ real estate to new landlords, who began to charge the stores rent. Art Van Eslander died a year later at age 87.
Is Love’s going out of business?
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.
Is Klaussner Furniture going out of business?
“With the demand COVID-19 has created, we have made the decision to exit the outdoor category and turn our attention to our core business,” said company CEO Terry McNew. “The demand for our domestic upholstery, case goods, and specialty bedding products continues to increase at unprecedented levels.
How many Levin Furniture stores are there?
The company, which is marking its 100th anniversary this week, now operates nine Levin Furniture & Mattress stores, a Levin Outlet and nine Levin Mattress stores in southwestern Pennsylvania, the Ohio Valley and Northeast Ohio.
What is going on with loves furniture?
Regional retailer Loves Furniture filed for Chapter 11 bankruptcy protection last week following multiple shipping problems and a dispute with a logistics provider, according to court papers. The filing comes not long after Loves launched.
Is love furniture Levin?
20, 2020. Loves was formed in early April 2020 by Jeff Love, also owner of U.S. Assets Inc. Later that spring, the company entered into leases for a total of 27 Store Capital and Essential Properties locations formerly occupied by Art Van and sister company Levin Furniture.
Did Value City Furniture go out of business?
NEW YORK, Oct 27 (Reuters) – Value City Department Stores has filed for Chapter 11 bankruptcy and will liquidate its remaining 66 stores, citing a slide in consumer spending and tougher credit markets. Value City first opened in Columbus, Ohio, in 1917.
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.
HOW LONG HAS ART VAN been in business?
US$ 1.4 Billion (2018 est.) Art Van Furniture Inc. was an American furniture retail store chain. Founded in 1959, the company was headquartered in Warren, Michigan in Metro Detroit.
Where was the first Art Van Furniture store?
Eastpointe, MI.
When was Art van founded?
1959, Eastpointe, MI.
Is Art Van Elslander still alive?
Deceased (1930–2018).
Where is the Art Van liquidation sale?
The four stores are: 2300 Telegraph Road in Bloomfield Township. 15701 Market Drive in Dearborn. 6500 E 14 Mile Road in Warren.
Where is Detroit sofa company made?
Shop the Detroit Sofa Company, exclusively at Art Van Furniture stores! Inspired by Detroit, made in the USA, handcrafted superior quality with custom order….
What was art van famous?
Art Van Elslander (b. 1930 d. 2018) is Founder and Chairman of Art Van Furniture, the Midwest’s largest furniture and mattress retailer. Headquartered in Warren, Michigan, Art Van Furniture is ranked in the top 20 of the leading 100 furniture stores in the United States.
