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Art Van Said To Consider Bankruptcy

Feb 17, 2020 | 8:19 AM

Art Van Furniture’s private-equity owner is considering filing the company for bankruptcy.

Boston-based Thomas H. Lee Partners bought Art Van in 2017 for $550 million. Soon after, founder Art Van Elslander died,
the company started having financial problems, and two of Art Van’s sons left the company.
The Van Elslander family reportedly might make an offer for the firm in a Chapter 11.

Art Van has 200 stores in 9 states. The company says it’s business as usual at all of it’s furniture and mattress stores.

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