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Art Van Going Out of Business Ahead Of Expected Bankruptcy; Liquidating, Selling Furniture Stores

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Art Van Going Out of Business Ahead Of Expected Bankruptcy; Liquidating, Selling Furniture Stores

Warren, Michigan-based Art Van Furniture said Thursday it is going out of business and beginning liquidation sales at all company-owned stores in the Upper Midwest.

AVF Holdings, Inc., said in a press release that it will liquidate the merchandise at Art Van stores in Michigan Illinois, Indiana, Missouri and Ohio.

Art Van is the largest furniture and mattress retailer in the Midwest. 

Eastern Stores Also To Be Sold Or Liquidated

The company said it will also liquidate eight Wolf Furniture stores in Maryland and Virginia and sell its Levin & Wolf Furniture locations in Ohio and Pennsylvania to Robert Levin, the former president of Levin Furniture in Pittsburgh.

Levin Furniture sold its 33 stores to Art Van in 2017.

"Despite our best efforts to remain open, the company's brands and operating performance have been hit hard by a challenging retail environment," company spokeswoman Diane Charles said in a statement.

"We recognize the extraordinary retail, community and philanthropic legacies that Art Van Furniture has built for decades in the community."

Deep Detroit Roots

The chain started in 1959, when Archie Van Elslander opened his first furniture store in the Detroit area. The Van Elslander family sold to private equity firm Thomas H. Lee Partners in 2017.

Art Van is expected to declare bankruptcy, and it remains possible a buyer could emerge that could seek to keep at least some of the brand's stores going. Art Van has about 190 stores and about 3,100 employees. 

Furniture Today reported Thursday that Art Van CEO Gary Fazio resigned Wednesday.

Liquidation sales will start Friday at Art Van Furniture stores, and stores it operates under the brands Art Van PureSleep and Shott Shuptrine Interiors, as well as the Wolf stores on the east coast.

Related Links:

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Courtesy photo. 

 

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