Deals
Furniture Brands’ Bankruptcy Sets Up Sale to Oaktree
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Furniture Brands International Inc., maker of the Broyhill, Lane and Thomasville home-furnishing lines, sought bankruptcy protection from creditors with a deal to sell most of its assets to Oaktree Capital Management LP for about $166 million.
The company, based in St. Louis, listed assets of $546.7 million and debt of $550.1 million in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware. Eighteen affiliates also sought court protection.