ABC Carpet to Stay in Business Thanks to Bankruptcy Sale
A customer shops at ABC Carpet and Home in 2015.
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ABC Carpet & Home, the more than a century-old New York luxury home goods retailer, will stay in business after winning court approval to sell itself to a group of investors.
The sale is valued at about $26 million, a lawyer for the retailer said in a hearing Wednesday, though most of the consideration will come in the form of debt forgiveness. The company received no other acceptable bids.