B. Riley Real Estate is acting as real estate advisor to United Furniture Industries in connection with its Chapter 11 liquidation and has commenced the sale process for the Lane Furniture real estate portfolio on behalf of the debtor.
Founded in 1912, Lane Furniture operated as an upholstered furniture manufacturer and distributor in the United States. Its real estate portfolio includes 14 properties located throughout Mississippi and North Carolina with 5 million square feet and more than 700 acres of core manufacturing, warehouse and distribution facilities, in addition to vacant land holdings.
This sale offers opportunities for local redevelopment and provides the necessary infrastructure to support a range of new manufacturing and distribution uses. Offers for the full portfolio, a subset and individual properties will be considered.
Stalking horse bids will be accepted through May 12, 2023. The portfolio will be sold at a concluding auction, tentatively scheduled for late June. Formal bidding and sale procedures were filed with and are subject to the approval of the bankruptcy court.
