Brunschwig & Fils Files Chapter 11, May Be Sold To Competitor
Home Textiles Today reports that Kravet , a 93-year-old-brand, has offered $6.5 million in cash plus other considerations. Brunschwig & Fils wants other offers by March 3, with an auction not more than two days later to see if anyone will top Kravet's offer. There are no plans to close the 17 Brunschwig & Fils showrooms in the U.S. and three abroad. Brunschwig CEO Olivier Pearson called the restructuring a business decision and said that "our relationships with the lines we represent remain intact and the Brunschwig & Fils Design Studio is creating new patterns for future release."