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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.
Did Art Van Go out of business?
At the time (mid 2017), the company was riding high: It was immensely profitable, growing fast, entering new markets, and looked poised to double its growth and cement its standing as a regional powerhouse in the furniture industry. Last week, the company announced it is closing its doors forever.
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.
What store took over Art Van?
Loves Furniture, the new company that took over many shuttered Art Van Furniture locations, is now struggling to pay some vendors and fill its stores with fresh inventory due to pandemic-related supply issues affecting the furniture industry and has hired a new boss to turn things around.
Can you still buy Art Van Furniture?
They look forward to having the Art Van Furniture name back in the family, where it belongs.” The last remaining Art Van Furniture stores closed last year with everything-must-go sales that were put on by American Signature, the parent company of Value City 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.
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.
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.
Is Art Van still alive?
Archie A. Van Elslander, who founded Michigan-based Art Van Furniture and donated millions of dollars to causes he championed, died early Monday from complications related to lung cancer.
What is Art Van Furniture now?
A Dallas-based equity firm acquired 27 former Art Van stores out of bankruptcy with plans to reopen as Loves Furniture. The newly formed company, which will operate 17 locations in the state, will be headquartered Royal Oak, the company said in a press release.
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.
What brands did Art Van sell?
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.
Is the Detroit sofa company still in business?
Breaking News: the Detroit Sofa Company is now in select Art Van Furniture stores!.
What happened to Detroit mattress company?
In January, founder Art Van Elslander announced he would sell the chain to Boston-based Thomas H. Lee Partners LP for an undisclosed price.
Is Art Van in Lansing still open?
The Warren-based company announced Thursday that it is closing all of its approximately 190 locations and running liquidation sales.
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 is the quality of Art Van Furniture?
Tip: Affordable, original art can be found at local galleries, collectives and art schools; call to ask about art sales. We’ll leave the mattress/box spring sales pitch to those who do the pitching. Just understand: It is perhaps the most important piece of furniture you buy.
When did Art Van open?
1959, Eastpointe, MI.
How do I get my money back from Art Van?
Some Art Van locations are now open and if you bring in your original receipt you will either get the product you purchased, if it’s available — or you can select a new product of equal value. If you paid with a credit card you should work with the credit card company to dispute the charges.
Is Art Van honoring their warranties?
“The general rule is that warranties likely will not be honored by Art Van,” said Langton. “That warranty is no good unless the manufacturer will assume the damage, if there is such a thing.” Art Van is telling customers with concerns to contact their team at 888-427-8826.
Is pure sleep going out of business?
The operator of Art Van Furniture, PureSleep and a few other furniture and mattress store brands has filed for bankruptcy to close most of its locations.
How many Art Van stores are there?
Art Van has a total of 176 stores in nine states, according to its website. Twenty of the stores are franchise locations.
Who owns Levin Furniture?
In 1992, the company expanded its operations into the Cleveland, Ohio market. Shortly after, Robert Levin became president of the company. In 2017, Robert Levin retired and Levin Furniture was acquired by Art Van Furniture of Warren, Michigan.
Who is the owner of Loves furniture?
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.
