Furniture Brands International's assets will be sold to KPS Capital Partners LP, the winning bidder in the auction. The announcement was made Nov. 22.

Furniture Brands International announced that the U.S. Bankruptcy Court for the District of Delaware has declared an affiliate of KPS Capital Partners as the winning bidder in the auction.

Furniture Brands International has reached a preliminary agreement for KPS Capital Partners to its acquire assets, including the Lane Business for $280 million. It includes enhanced terms on DIP financing and extends offers of employment to substantially all current employees

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.

Company to Continue to Meet Its Financial Obligations with Approval of $140 Million Debtor - in - Possession Financing; Business Operations to Proceed Uninterrupted

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

Furniture Brands International, a leading importer and manufacturer of wood and upholstered furniture, received warning that it must improve its stock price or risk being delisted from the new York Stock Exchange (NYSE).