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WARREN, MI — Appliance banker Art Van Furniture’s clandestine disinterestedness client is reportedly exploring options of auction and filing for bankruptcy.
The Detroit Free Press letters that clandestine disinterestedness close Thomas H. Lee Partners LP is in the action of alive with admiral and creditors to acquisition a accessible client for the aggregation and potentially filing for Chapter 11 bankruptcy, according to a address from Crain’s Detroit Business.
According to the address from Crain’s, a accommodation on the approaching of the appliance retail aggregation could appear as anon as abutting week.
Art Van Vice President of Communications Diane Charles accepted the aggregation is in negotiations.
“We are actively exploring a array of options with our creditors, investors and landlords to ensure Art Van can abide confined our guests and our communities,” Charles said in a account to the Free Press. “It is abortive at this time to animadversion added as no final decisions accept been made. In the meantime, our food are open, and it is business as usual.”
The aggregation has added than 100 food in bristles states, a franchising affairs and about 3,700 employees.
Art Van Appliance sells to clandestine disinterestedness firm
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