Report: Former Art Van Furniture stores could get new life with Texas company
(5/11/2020) - Three former Art Van Furniture stores in Mid-Michigan are among 24 that a Texas investor is hoping to reopen.
U.S. Assets Inc. of Dallas is close to completing a $6.9 million deal to purchase inventory and assets of the closed Art Van locations in Bay City, Burton and Saginaw.
The private equity investor plans to reopen the 27 stores in Michigan and five other states to sell furniture. Some employees who lost their jobs when Art Van when bankrupt and closed in March could be rehired.
A U.S. Bankruptcy Court judge still has to approve the deal, which could happen later this week. There was not mention of when the stores would open.