Art Van Furniture Company Sold

After private equity firm thomas h.

Art van furniture company sold.

Lee partners of boston acquired art van in a 612 5 million buyout financed by the company. Founded in 1959 the company is headquartered in warren michigan in metro detroit. The warren based furniture retailer was founded by art van elslander in detroit in 1959. Art van made it to no.

Elslander died in 2018. Was an american furniture retail store chain. The latest case in point is art van a michigan based furniture. In 2017 the company was sold to boston based thomas h.

On march 5 2020 the company announced it closed all its stores. Detroit art van furniture is being sold to a private equity firm in boston the company announced wednesday. 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. The deal is reportedly worth 550 million and is expected to close in february.

It rose to no. 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. By the time the firm bought the furniture store there were 100 locations across the. 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.

In january 2017 art van announced that the company was being sold to a private equity firm thomas h. 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.