ABC Carpet & Home Is Said to Prepare Chapter 11 Bankruptcy (1)

Sept. 8, 2021, 8:02 PM

New York luxury furniture purveyor ABC Carpet & Home plans to file for bankruptcy protection as soon as Thursday and warned employees of impending layoffs after struggling to keep up with costs amid the Covid-19 pandemic, according to a person with knowledge of the plans.

The luxury furniture retailer known for $6,000 sofas and rugs that run as much as $70,000, is set to receive a debtor-in-possession loan from 888 Capital Partners as part of its bankruptcy filing, said the person, who asked not to be named discussing private plans and said the investment firm is one of several ...

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