Burton Michigan Art
After furniture retailer Art Van in Detroit closed its Michigan offices and laid off more than 1,000 of its employees following a bankruptcy filing, the former Art Van stores in Michigan could reopen under a new partnership between Detroit-based Metro Love Furniture and a Texas private equity firm. The former Detroit, Michigan, furniture store will reopen with a revamped concept for selling furniture online and in stores, according to the owner. Love Furniture, which is scheduled to open in late summer, could eventually hire 20 to 30 full-time workers, he said in an interview last week.
That could even be good: Loves said he will announce an opening date as soon as stores open in Michigan, possibly as early as next week.
We are working hard to prepare the museum for your arrival and can assure you that your visit will be a safe and enjoyable experience. We understand and look forward to welcoming you back to our hotel when we feel comfortable on your return, even if you cannot or do not want to come on the first day.
We are not returning to normality, but adapting the scientifically motivated practice that will help keep our community safe. So far, educators have produced more than 50 videos showcasing astronomy tips for the garden that can be tried out at home.
In the Longway Planetarium we installed UV filtration in the HVAC system and equipped the Mars room and the back office with filtration. We will close for a few days so that our cleaning teams can disinfect the exhibits. Memberships, including their day passes, will be credited for any time lost during the pandemic. Timely tickets for members and non-members of the community keep us apart.
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The Texas-based private equity firm, called US Assets Inc., initially acquired 17 former art van leases for stores in Michigan. The deal, worth $6.9 million, included more than 1,500 square feet of retail space, according to Boston Realty Partners.
The agreement of May 4 was concluded between US Assets Inc. and a court - the insolvency administrator. The buyer agreed to pay about $6.9 million to purchase the inventory and assets associated with the facility. It was the first of a series of sales contracts filed in bankruptcy proceedings, which the court later approved.
After starting liquidation sales in most of its 190 branches, Art Van filed for Chapter 11 bankruptcy in March 2009 (later renamed Chapter 7) and initiated liquidation sales in its branches. In court documents related to the bankruptcy filing, the Art Van managers pointed to the steadily declining profitability and increasing fragmentation in the U.S. retail sector. The company's total stock was about $1.2 billion, about a third of its total annual revenue of $2.5 billion.
In addition to the typical offers, Art Van Furniture also offered special offers in the form of outlet articles. As well as outlet deals, it is running adverts for its seasonal sales, showing customers how to save money on furnishings all year round. The advert for the Calderone Advisory Group's seasonal sale in Birmingham described how people spent a lot of time hanging out and working at home before the pandemic hit.
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