SB360 Capital Partners has been chosen by Heritage Home Group to assist HHG in conducting sales of the inventory from its Thomasville and Broyhill business units.
Thomasville includes the Thomasville brand, Drexel, and Henredon. Broyhill is a namesake brand.
Heritage Home Group’s parent company HH Global II BV, and its related U.S. affiliates, filed petitions with the U.S. Bankruptcy Court for the District of Delaware on July 29th. As part of the restructuring process, HHG has solicited competing bids for all its businesses.
SB360 will assist HHG in commencing a “Store Closing Sale” in the 25 HHG-owned stores on September 14th. The 25 locations are in 14 states, and include 24 Thomasville branded stores, and 1 Henredon branded store. Inventory currently being manufactured, as well as inventory located in distribution centers, will be sent to the store locations for this once-in-a-lifetime event.
Aaron Miller, EVP of SB360, said “The Heritage Home brands are really second-to-none in the furniture industry. Thomasville and Broyhill have a heritage and recognition that cross generations.”
To facilitate the disposition of the wholesale inventory, SB360 will assist HHG in operating the wholesale businesses of the company for an interim period of time.
