Art Van Furniture Company Sold

Art van made it to no.

Art van furniture company sold.

Art van furniture will sell itself to a private equity firm after 58 years of ownership by its founder. In 2017 the company was sold to boston based thomas h. The deal is reportedly worth 550 million and is expected to close in february. By the time the firm bought the furniture store there were 100 locations across the.

Detroit art van furniture is being sold to a private equity firm in boston the company announced wednesday. In january 2017 art van announced that the company was being sold to a private equity firm thomas h. The warren based retailer on wednesday announced a tentative deal to sell to thomas h. The latest case in point is art van a michigan based furniture.

After private equity firm thomas h. It rose to no. 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. The warren based furniture retailer was founded by art van elslander in detroit in 1959.

On march 5 2020 the company announced it closed all its stores. 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. Founded in 1959 the company is headquartered in warren michigan in metro detroit. 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.

Elslander died in 2018. 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.