Owners of Florida furniture store Hudson's in Chapter 11
Filing not related to furniture business, says founder
Clint Engel -- Furniture Today, October 21, 2009
SANFORD, Fla. — The founder of Top 100 company Hudson's here has filed for Chapter 11 bankruptcy protection, according to a report by the Orlando Sentinel, but President Fred Hudson told Furniture/Today the filing has nothing to do with the 15 remaining Hudson stores.The report said four entities owned by Fred Hudson - limited liability companies owning one store each in Florida - filed for bankruptcy early this month. An attorney for Hudson told the paper that a bank had begun foreclosure proceedings against the locations and that the bankruptcy was filed to restructure debt while keeping the stores open.
Hudson told Furniture/Today this was a "property deal" that "has absolutely nothing to do with Hudson's furniture." He declined further comment.
Hudson's is No. 89 on Furniture/Today's Top 100 with an estimated $58 million in sales at 24 stores in 2008, including five Ashley Furniture HomeStores in North Carolina that it operates with a partner. Earlier this year, it closed its four Georgia Hudson's stores.
Click here to read the Orlando Sentinel story.
