Loves Furniture Files for Bankruptcy After Purchasing Art Van Stores

Loves Furniture & Mattress, a brand new furniture realtor that opened its doors less than a year ago, filed for Chapter 11 bankruptcy on January 6, 2021. The company filed in the U.S. Bankruptcy court in Detroit, and listed assets and liabilities ranging from $10 to $50 million.

Loves Furniture had been undergoing financial difficulties since nearly the day it opened. The company repurchased several shuttered Art Van Furniture locations in May 2020. Art Van Furniture was founded in the 1950s, and was a flouring furniture realtor in the Midwest. However, amid the struggles of the pandemic Art Van filed for Chapter 11 bankruptcy on March 8, 2020. This caused a total liquidation of the Art Van Furniture brand.

Loves Furniture acquired 27 former Art Van locations in Michigan, Pennsy...

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