Brooke Shields Goes From 'Pretty Baby' To Gorgeous Woman
Brunschwig & Fils Files Chapter 11, May Be Sold To Competitor
Filed under: Decor
Luxury wallcovering brand Brunschwig & Fils recently announced that the family-owned company has filed for Chapter 11 restructuring and that Kravet, a fabrics and home furnishings company and former competitor has agreed to buy the company. Brunschwig & Fils is an 111-year-old distributor of wall coverings and upholstery fabrics. It listed assets of $10.9 million and debt totaling $18.4 million. The recession led to a 35% decline in sales in 2009 and a 30% decrease in 2010 as less people poured money into their homes. 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."
SLIDESHOW: Tattoos That Go Way Beyond Your Average Tramp Stamp
Rodents Run Amok at Upstate New York Walmart
PHOTOS: Most And Least Christian States In America
Apple CEO Tim Cook interview at D10: the liveblog
Beyonce 60-Pound Weight Loss: Queen B Flaunts New Figure During Comeback Concert Series
VIDEO, PHOTOS: Man Who Chewed Off Victim's Face ID'd
What's a Realistic Retirement Age?
I'm A Successful Entrepreneur But Might Get Deported
America's 10 Best National Parks
What Happened When Alex Kenjeev Paid His Student Loan in Cash
Carrie Underwood's Grunge Rock Past: 'I Was All About Pearl Jam'
Naked Face Eater's Victim ID'd; Attack Lasted 18 Minutes
Farmers Hit the Jackpot in Kansas Oil Boom
Mary J. Blige, Charity Lawsuit: Singer's Foundation Sued for Failing to Repay $250K Loan
Boy Buys Old Polaroid Camera, Finds Picture Of Uncle
Supposed new iPhone casings show up with tall body, tiny dock connector, tons of mystery (update: a bit of the front too)
'I Am Now Who I Was Supposed To Be'
NSFW PHOTOS: A Little Too Much Of A Rear View
Eight-Year-Old Upset After Teacher Gave Her The Biggest 'Catastrophe' Award
Wynonna Judd's 33 Wildest Stage Costumes
'Cannibal' Attack: Naked Man Shot Dead In Miami 'As He Chewed Victim's Face' (VIDEO, PICTURES)
Cops Probe Possible Connection Between Two Missing College Students
PHOTOS: Nicole Scherzinger Almost Reveals Too Much
Yale Student Killed In Crash Days After Graduating
FREE FALLING
60 Recipes For Pie Lovers
Donald Trump Can't Be Controlled, Causes Major Headache For Mitt Romney
The 10 Least Affordable Places To Buy A Home
Serena Shocked At French Open
Walmart Workers Call Cops On Veterans On Memorial Day
Will You Be My Facebook Friend? No.
Pat Gallagher: Late Bloomers: Hollywood Stars Who Made It Big After Age 50