Linwood Furniture's Assets to Be Sold

By Karen Koenig | Posted: 04/26/2013 9:32PM

 

Linwood Furniture, Liquid Asset PartnersLiquid Asset Partners LEXINGTON, NC -  Linwood Furniture's assets have been purchased by Liquid Asset Partners. The assets, totaling over $8 million, will be sold at a public liquidation sale starting April 29.

The sale will run for 12 weeks at the 800,000-square-foot Linwood factory and will include $2 million worth of machinery, $1.5 million in finished furniture inventory, $4 million of raw materials and work-in-process, $700,00 of unpainted furniture as well as other supplies, according to Liquid Asset Partners.

The casegoods manufacturer filed for Chapter 11 bankruptcy protection on March 5, 2012, and was put in Chapter 7 in September. Prior to the filing, more than 100 people worked at the company.

Linwood Furniture was founded in 2006 as a joint venture between Bob Timberlake Inc., Kepley-Frank Hardwood and a group of investors. The company became renown for its promotion of Made in the USA solid wood bedroom and dining room suites.

Information on the liquidation sale is available at LiquidAP.com.

 

About the Author

Karen M. Koenig

Karen M. Koenig has more than 25 years of experience in the woodworking industry, including visits to wood products manufacturing facilities throughout North America, Europe and Asia. As Editor-in-Chief of Woodworking Network magazine (formerly Wood & Wood Products), Karen’s primary responsibilities include spearheading the writing, editing and coordinating of the editorial content of the publication, along with the Red Book resource guide and the Red Book online source and supply directory (RedBookOnline.com). She is also a frequent contributor to other Woodworking Network online and print media. She can be reached at kkoenig@woodworkingnetwork.com or Google+.

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