Bankrupt furniture retailer Art Van Furniture, LLC has lost access to cash collateral and the buyer for 44 of its stores amid the economic fallout from the new coronavirus.
The news is the latest in a series of setbacks for the Midwestern furniture retailer, which filed for Chapter 11 protection earlier this month with plans to liquidate most of its 169 stores and sell the 44 Wolf and Levin branded stores as a going concern.
“The transaction, while it could be revived at some point in the future, is not going forward now,” Art Van’s attorney, Gregory W. Werkheiser of ...
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