Art Van Workers Claim Victory After T.H. Lee Boosts Payouts (1)

Thomas H. Lee Partnersis nearly doubling a fund to assist former workers at its bankrupt Art Van Furniture chain, after months of pressure from employees who said a payment of around $400 each was “grossly inadequate.”

The private equity firm is adding $950,000 to a $1.1 million fund it established last year, according to United for Respect, the group that worked with former employees to demand health coverage or cash assistance after Art Van filed for bankruptcy last year.

A representative for Boston-based T.H. Lee, which manages $11.6 billion, declined to comment on the decision. The firm had previously ...