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Some Art Van Furniture stores could reopen under a new name. The stores that will reopen represent 20 percent of Art Van’s former inventory, according to bankruptcy court records. Debatable at best, that proposition clearly doesn't apply to retailing. Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware tentatively approved the sale deal at a remote hearing Tuesday, pending some minor language changes to the sale order. The latest case in point is Art Van, a Michigan-based furniture chain with big presence in the Chicago market. Art Van Furniture, which filed for Chapter 11 in March, was forced to convert its case to a Chapter 7 liquidation April 6 after Covid-19 stay-at-home orders halted going-out-of-business sales. DETROIT – Art Van Furniture is being sold to a private equity firm in Boston, the company announced Wednesday..
A private-equity firm in Texas is looking to buy 17 former Art Van furniture locations in Michigan and may reopen them under a new name.