Dive Brief:
Regional retailer Loves Furniture filed for Chapter 11 bankruptcy protection last week following multiple shipping problems and a dispute with a logistics provider, according to court papers.
The filing comes not long after Loves launched. The retailer was created last year to take over stores vacated by Art Van after that retailer liquidated in bankruptcy last spring.
Loves filed for Chapter 11 under an agreement with another furniture specialist to liquidate excess inventory and restructure around a smaller footprint after deciding to liquidate 13 stores in December.
Dive Insight:
Real estate veteran Jeff Love created Loves Furniture last year after two financial firms approached his company about starting up a new furniture retailer to fill spaces vacated by Art Van in its liquidation last spring.