Furniture Brands International has entered into an asset purchase agreement with KPS Capital Partners L.P. to acquire substantially all of FBI's assets for $280 million, including the Lane business. The news was announced Oct. 3.
furniture brands international
Thomasville, Henredon, Lane, Broyhill and other brands affected; Oaktree Capital signs asset purchase agreement and provides $140 million in debtor-in-possession financing.
Affiliates of Funds managed by Oaktree Capital Management Sign Asset Purchase Agreement and Agree to Provide $140 Million in Debtor- In-Possession Financing Normal Operations Expected to Continue with No Impact on Customers
Howard G. Smith announces a class action lawsuit has been filed in the United States District Court for the Eastern District of Missouri on behalf of purchasers of the common stock of Furniture Brands International, Inc.
Furniture Brands equity in storied lines - including Thomasville, Drexel, Lane and Broyhill brands - may not preserve the business, which lost $59 million in the first half of 2013. Furniture Brands is looking at restructuring options.
Furniture Brands International (FBI), notified last month that its stock had fallen below the New York Stock Exchange's (NYSE) listing standard, recorded a $40.8 million loss for the second quarter ended June 29.
Furniture Brands International (NYSE:FBN) has received its second notice in less than a year that it has fallen below the New York Stock Exchange's contitued listing standards.
Furniture Brands International (NYSE:FBN) announced today that the New York Stock Exchange, in accordance with its usual practice, contacted the company in view of unusual market activity in Furniture Brand's common stock.
Furniture Brands International (NYSE:FBN) today announced that on July 10, 2013, it received notification that it had fallen below the NYSE's continued listing standards.