Two Thomasville furniture factories and a Lane Furniture operation will close as Heritage Home Group, the former Furniture Brands, restructures following its bankruptcy. Approximately 564 will be laid off.

Two former Furniture Brands International executives will receive up to $1 million in insurance payments to help defray legal costs associated with the bankrupt residential furniture corporation.

Furniture Brands International has been reformed as Heritage Home Group by its new owner KPS Capital Partners LP.

KPS Capital Partners, LP (“KPS”) today announced the formation of a new company, Heritage Home Group, LLC, that has acquired substantially all of the assets of Furniture Brands International, Inc., a world leader in designing, manufacturing, sourcing and retailing home furnishings.