Deals
Furniture Brands Wins Court Approval of Bankruptcy Financing
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Furniture Brands International Inc., maker of the Broyhill, Lane and Thomasville home-furnishing lines, won court approval of as much as $115 million in bankruptcy financing to help fund operations as it pursues a sale of most of its assets to Oaktree Capital Management LP for about $166 million.
U.S. Bankruptcy Judge Christopher Sontchi granted the company interim approval of the loan being provided by Oaktree at a hearing today in Wilmington, Delaware. The company will seek approval of the full $140 million financing package at an Oct. 2 hearing.