Loves Furniture Inc., the bankrupt retailer born from the assets of now-defunct Art Van Furniture LLC, won bankruptcy court approval to distribute its liquidated assets to creditors.
Judge Thomas J. Tucker of the U.S. Bankruptcy Court for the Eastern District of Michigan approved the company’s Chapter 11 plan at a hearing Wednesday. Loves faced no opposition to its plan following recent negotiations with its creditors.
The Warren, Mich.-based company’s equity holders were the only group that voted to reject the plan. They will get nothing for their interests, Loves’ attorney, Max Newman of Butzel Long PC, said at the hearing. ...
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