Winning Bidder Announced for Thomasville & Co and Broyhill Brands

Furniture World News Desk on 10/19/2018

Robert Albergotti, Chief Restructuring Officer for HHG, recently announced that an affiliate of Authentic Brands Group and the Schottenstein Organization emerged as the winning bidder for the intellectual property assets of both the Thomasville & Co and Broyhill business lines. You can read the statement below:

“Yesterday, the Company hosted an auction for the sale of its Thomasville & Co. (including Thomasville, Drexel and Henredon) and Broyhill business lines. We are announcing today that an affiliate of Authentic Brands Group and the Schottenstein Organization emerged as the winning bidder for the intellectual property assets of both business lines. This sale is for the brands only and does not include their corporate or manufacturing operations.

Also within the auction, Hamilton Square, LLC, an affiliate of Samson Furniture, purchased the Lenoir upholstery manufacturing facility, and VLR, LLC, an affiliate of Hale Partnership, purchased the equity of our Mexican manufacturing operations.

This was a competitive process – a testament to the dedication of our employees, the quality of our assets and the value of our brands. In the coming weeks the buyers will announce how they plan to integrate these assets into their portfolios.

A hearing will be held on October 23 in the U.S. Bankruptcy Court for the District of Delaware to approve the sales. We anticipate that these assets should be transitioned to their new owners within 30 days. This announcement does not affect the previously-announced sale of our Luxury business unit. We anticipate that our retail business will continue to operate through the completion of our inventory reduction sales, which we expect to last through the end of the year.

This transaction provides these brands with the opportunity to begin a new chapter – and continue serving customers – under new ownership. Throughout this period of uncertainty, we have remained grateful for the continued support of our employees, customers and suppliers.”