ST. LOUIS, MO -- Furniture Brands shareholder Samson Holding Ltd. entered the bidding fray for the assets of the now bankrupted company, according to published reports.
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This news comes on the heels of the Oct 3 announcement of a purchase agreement with KPS Capital Partners, which set the floor for Furniture Brands' assets at $280 million. Although the KPS bid was approved by the bankruptcy court, the agreement also allowed additional companies to bid.
As one of Furniture Brands' largest stakeholders, Samson says it plans to match or exceed KPS' bid, according to the Winston-Salem Journal.
Universal Furniture, Legacy Classic Furniture, Craftmaster Furniture, Pennsylvania House and Samson International are a few of Samson Holdings' brands, selling wholesale residential furniture in the U.S.
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