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Court approves Rowe sale

Sun Capital unit wins bid

By Furniture Today Staff -- Furniture Today, January 19, 2007

ALEXANDRIA, Va. — A bankruptcy court here has approved the sale of midpriced upholstery manufacturer Rowe Furniture to an affiliate of Sun Capital Partners, a Florida-based investment firm.

An earlier report erroneously said the sale was postponed.

Further details were not immediately available.

Rowe filed for Chapter 11 on Sept. 18, listing assets of $130.8 million and liabilities of $93.3 million. Shortly after, Rowe closed and liquidated its Storehouse retail chain.

Sun Capital Partners, which has other furniture industry holdings and this week also acquired occasional and case goods importer L. Powell Co., bid on Rowe in a bankruptcy court proceeding. A court hearing this week was part of an auction process.

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Rowe sale still pending Friday

Feb 4, 2007

Rowe auction set for Jan. 11

Jan 14, 2007

Rowe auction still Jan. 18

Jan 21, 2007

Rowe sale still pending

Jan 19, 2007

Rowe auction date still Jan. 18, company says

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