Art Van Furniture Company Sold

The deal doesn t include those stores real estate most of which was sold off in 2017 as part of the van elslander family s 612 5 million sale of their metro detroit based furniture company to.

Art van furniture company sold.

Art van furniture inc. The warren based furniture retailer was founded by art van elslander in detroit in 1959. In january 2017 art van announced that the company was being sold to a private equity firm thomas h. Lee partners of boston acquired art van in a 612 5 million buyout financed by the company.

The latest case in point is art van a michigan based furniture. It rose to no. 14 on furniture today s top 100 for 2018 based on 2017 estimated furniture bedding and accessory sales of 1 1 billion at 178 combined stores. Detroit art van furniture is being sold to a private equity firm in boston the company announced wednesday.

Art van furniture will sell itself to a private equity firm after 58 years of ownership by its founder. Art van made it to no. The warren based retailer on wednesday announced a tentative deal to sell to thomas h. Founded in 1959 the company is headquartered in warren michigan in metro detroit.

On march 5 2020 the company announced it closed all its stores. Elslander died in 2018. By the time the firm bought the furniture store there were 100 locations across the. The deal is reportedly worth 550 million and is expected to close in february.

Loves furniture a newly formed royal oak based company has purchased the assets of 27 art van stores and will reopen under the new company name in michigan and five other states. Wolf furniture is set to be sold as the company that owns it art van furniture winds down operations and begins liquidation levin wolf furniture in ohio and pennsylvania will be sold to.