Assets of former manufacturer Linwood Furniture to be sold
Tom Russell -- Furniture Today, April 26, 2013
LEXINGTON, N.C. - Liquid Asset Partners of Grand Rapids, Mich., says it has purchased various assets of former case goods manufacturer Linwood Furniture and will sell off those assets over 12 weeks starting April 29.
The company said the sale will take place at the former Linwood plant at 3979 Old Linwood Road in Lexington and will include furniture, tools, machinery, raw materials, antique carts and other supplies.
Officials said the assets have a total value of more than $8 million and will be sold at large discounts.
Linwood, which was formed in 2006, primarily produced bedroom and dining room furniture. It filed for Chapter 11 bankruptcy protection in March 2012 and for several months tried to restructure the operation. After that attempt failed, it closed its doors and later received approval to convert to a Chapter 7 in order to sell its remaining assets.
Liquid Asset Partners said it purchased the assets this week. The sale will run for 12 weeks and the plant will be open from 10 a.m. to 7 p.m. Monday through Saturday and noon to 4 p.m. on Sundays, the company said.
More information on the liquidation is available online at www.liquidap.com or by calling Liquid Asset Partners at (616) 719-5917.