Domain auction may occur this week
By Furniture Today Staff -- Furniture Today, February 4, 2008
Norwood, Mass. — Domain Home's assets may be auctioned this week in U.S. Bankruptcy Court.
The 27-store Top 100 company, which filed for Chapter 11 protection Jan. 18, had asked for the court's approval of a schedule that noted Feb. 1 as the deadline for submitting bids, followed by a Feb. 5 auction and then approval of a sale Feb. 7.
A hearing was set for this past Friday, but results were not available at press time.
Domain has said it was hoping to reorganize as a going concern but recognized that a wind-down of operations through a liquidation might best serve the interests of its creditors.
Separately, the U.S. trustee in the case appointed seven companies to Domain's unsecured creditors committee. They are McCreary Modern, Artistica Metal Designs, Southern Furniture of Conover, Nourison Rug, Concord Litho Group, The Taubman Co. and General Growth Properties.
