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February 11, 2016 4:40 PM ET

Household Durables

Company Overview of Thomasville Furniture Industries, Inc.

Company Overview

On August 1, 2014, Thomasville Furniture Industries, Inc. went out of business as per its Chapter 11 liquidation filing under bankruptcy. Thomasville Furniture Industries, Inc. manufactures and supplies home furnishings, accessories, and cabinetry. It offers living room furniture, including fabric and leather sofas, sleeper sofas, cocktail and coffee tables, fabric and leather chairs, leather recliners, media consoles, curio cabinets, end tables, lamp tables, fabric and leather sectionals, sofa tables, and fabric and leather ottomans; and dining room furniture, such as dining tables, dining arm chairs, dining side chairs, china cabinets, curio cabinets, buffets, and sideboards. The company a...

401 East Main Street

Thomasville, NC 27361

United States

Founded in 1904

Phone:

336-472-4000

Fax:

336-472-4057

Key Executives for Thomasville Furniture Industries, Inc.

Thomasville Furniture Industries, Inc. does not have any Key Executives recorded.

Thomasville Furniture Industries, Inc. Key Developments

Second Amended Liquidation Plan Approved for FBI Wind Down, Inc.

The US Bankruptcy Court approved the second amended plan of liquidation of FBI Wind Down, Inc. on July 14, 2014. The debtor filed its second amended plan in the Court on July 9, 2014. As per the amended plan, administrative expense claims, U.S. Trustee fees, adequate protection claims, professional fee claims, priority tax claims, priority non-tax claims, secured tax claims and other secured claims will be paid in full in cash. General unsecured claims against the FBI, Broyhill, Lane, Thomasville, HDM and AT will be paid in cash with a recovery of 4.3%, 4.5%, 6.0%, 5.3%, 9.9% and 3.4% respectively with their estimated allowed amounts being $370.9 million, $318.1 million, $333.7 million, $341.8 million, $309.4 million and $301.5 million. Allowed convenience claims against the FBI, Thomasville, and HDM shall receive recoveries of 9%, 10% and 15% respectively. The plan also amended the allowed amounts of convenience claims against FBI, Broyhill, Lane, Thomasville, and HDM to $0.8 million, $0.5 million, $1.6 million, $1.8 million and $1.8 million respectively. Claims of equity interests in debtors have been cancelled and will not receive any distribution. Allowed subordinated securities claims will not receive any distribution. The liquidation plan will be funded by cash in hand and proceeds from sale of substantially all assets.

Second Amended Liquidation Plan Filed by FBI Wind Down, Inc.

Furniture Brands International Inc., along with its affiliates, filed the amended joint plan of liquidation in the US Bankruptcy Court on July 9, 2014. As per the amendments, there are no changes in the treatment of claims.

Amended Liquidation Plan and Disclosure Statement Filed by FBI Wind Down, Inc.

Furniture Brands International Inc., along with its affiliates, filed the amended joint plan of liquidation with related disclosure statement in the US Bankruptcy Court on May 27, 2014. As per the amendments, allowed general unsecured claims against the FBI, Broyhill, Lane, Thomasville, HDM and AT will be paid in cash with a recovery of 4.3%, 4.5%, 6.0%, 5.3%, 9.9% and 3.4% respectively with their estimated allowed amounts being $370.9 million, $318.1 million, $333.7 million, $341.8 million, $309.4 million and $301.5 million. Allowed convenience claims against the FBI, Thomasville, and HDM shall receive recoveries of 9%, 10%0 and 15% respectively. The plan also amended the allowed amounts of convenience claims against FBI, Broyhill, Lane, Thomasville, and HDM to $0.8 million, $0.5 million, $1.6 million, $1.8 million and $1.8 million respectively. The claims and treatments of other classes of claimants remained unchanged.

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