Bankruptcy Court Approves Art Van’s $25.7 Million Sale to Levin

Bankrupt retailer Art Van Furniture says it will sell its remaining assets in bulk after sealing a deal to sell 32 stores to Levin Furniture for $25.7 million.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware approved the sale at a hearing Wednesday. The sale is part of the ongoing liquidation by Art Van’s Chapter 7 Trustee, who is in charge of selling all company assets to pay off its creditors.

The success of the Levin sale, which comes on the heels of a separate $6.9 million 27-store deal with a private equity company ...