Woodworking Industry News
TUPELO., Miss. — Creditors are seeking to recoup nearly $100 million from United Furniture Industries, and one of its largest creditors — banking giant Wells Fargo — is pushing the company into an involuntary Chapter 7 bankruptcy filing.
In addition to Wells Fargo,the petition also names two other creditors — Security Associates of Mississippi/Alabama and V&B international — as being owed money. In total, United owes more than $99.5 million, excluding interest, fees and expenses, to the three creditors alone.