Loves Furniture Files Chapter 11
A Loves Furniture store in Toledo, OH (credit: Toledo Blade)
Loves Furniture, a regional Michigan retail startup that went into business in 2020 just as the pandemic was emerging, has filed for bankruptcy protection as bills piled up and inventory, fulfillment and logistics issues hamstrung its operations.
The company, a successor to Art Van Furniture, said it owes more than $10 million to vendors, while listing assets of $38.6 million.
Loves said in its filing that inventory issues in particular caused problems with customers when items could not be located in a warehouse to ship to a store, leading to negative reviews on social media, canceled orders and refunds.