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Loves Furniture points fingers over financial problems, bankruptcy
In new documents filed in U.S. Bankruptcy Court, Loves Furniture said warehousing and delivery problems led to bad customer experiences, canceled orders and ultimately the company s financial distress.
Before the company s Jan. 6 Chapter 11 filing, Loves public statements mostly blamed its financial challenges on industry-wide supply disruptions caused by the COVID-19 pandemic that left the company s stores with low inventory during a time of high consumer demand.
Loves Furniture is the newly created company that took over many shuttered Art Van Furniture locations last summer in the wake of Art Van s surprise March 2020 liquidation bankruptcy. Loves started off with 34 stores in Michigan, Ohio and Pennsylvania and about 500 employees. It will soon be down to 13 stores, all but one in Michigan.