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1847 Holdings Announces Early Payoff of Asien's Appliance Financing

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NEW YORK, Sept. 15, 2020 (GLOBE NEWSWIRE) -- 1847 Holdings LLC (OTCQB:EFSH) (the "Company"), a publicly traded holding company platform that combines the attractive attributes of private, lower-middle market businesses with the liquidity and transparency of a publicly traded company, today announced it completed an early payoff of the financing related to its acquisition of Asien's Appliance.

"Having completed the first 90-days from acquisition, we realized our financial performance and progress on our plan provided this opportunity," stated Bob Patterson, CEO of Asien's Appliance. "We are moving confidently forward knowing the fundamentals of the business are solid and believe we are well positioned for strong performance in the quarters ahead."

The $685,000 loan, secured by future receipts, was provided by TVT Capital LLC. The payoff was achieved on the 105th day from funding (May 29 to September 10).

The household appliance market in the US is forecasted to exceed $21 billion in 2020 and is expected to grow at a CAGR of 13.7%, reaching $40 billion in 2025, according to data from Statista.

Ellery W. Roberts, the CEO of the Company, stated, "I am thrilled with the performance so far of Asien's Appliance and its management team and I believe that the early payoff of the acquisition financing brings us one step closer to our goal of paying regular cash dividends to our shareholders in the future."

About 1847 Holdings LLC

1847 Holdings LLC (OTCQB:EFSH) is a publicly traded partnership that combines the most attractive attributes of owning private, lower-middle market businesses with the liquidity and transparency of a publicly traded company.  1847 Holdings seeks to generate returns for shareholders in the future through consistent, annual distributions of operating subsidiary income and capital appreciation resulting from the timely sale of operating subsidiaries.

Forward-Looking Statements

This press release may contain information about 1847 Holdings' view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management's beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact.  Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in "Risk Factors" included in our SEC filings.

Contact:

Ellery W. Roberts, Founder & CEO
1847 Holdings LLC
Office: 212.417.9800
info@1847holdings.com

Dave Gentry, CEO
RedChip Companies
Office: 1.800.RED.CHIP (733.2447)
Cell: 407.491.4498
dave@redchip.com

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