COLUMBUS, Ohio - The Broyhill furniture brand and related trademarks have been acquired by discount retailer Big Lots.
The parent company of Heritage Home Group (HHG), former owner of Broyhill and other big name furniture brands, filed for bankruptcy last year. In August, HHG filed a WARN Act notice in North Carolina affecting 712 employees at its Lenoir Upholstery and Lenoir Case facilities when an initial attempt to identify a buyer and sell the Broyhill and Thomasville & Co. business groups fell through.
HHG decided to sell its furniture brands in an auction. Last October, Authentic Brands Group was the winning bidder for the Broyhill, Drexel, Henredon, Thomasville brands at $38.5 million. Soon after, it sold the Broyhill rights to an unnamed U.S. retailer, reported Furniture Today.
The purchase price wasn't revealed. In that October auction, Big Lots was the runner-up Broyhill bidder, bidding $38 million.
Big Lots is a retailer with 1,400 stores in 47 states.
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