Thornwood Furniture Mfg. in Chapter 11
Company has big plant in Phoenix
Heath E. Combs -- Furniture Today, June 9, 2010
PHOENIX — Domestic wood furniture manufacturer Thornwood Furniture Mfg. has filed for Chapter 11 bankruptcy protection.The company has applied for joint administration of its case through Thornwood and Albacore Holdings. It said Craig Thorn is a controlling officer and majority owner of each business.
The company said in court documents filed Monday that it has 250 employees, and lists both assets and liabilities in the $10 million to $50 million range. A statement of financial affairs is due to be filed by June 21.
Its top unsecured creditors include Packsize Corp., with a claim of $465,824; Roseburg Forest Products, $296,859; Banks Hardwoods, $145,066; IVC Industrial Coatings, $123,038; Swift Transportation, $114,641; Columbia Forest Products, $106,652; Akzo Nobel Coatings, $93,962; U.S. Industrial Fasteners, $93,765.
According to Thornwood's website, the company has 500,000 square feet of manufacturing on a 26-acre campus in Phoenix.
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UPDATE: Thornwood Furniture Mfg. in Chapter 11
Jun 10, 2010
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