A federal judge has approved Robert Levin’s plan to revive the Levin Furniture chain.
According to Channel 11 News’ exchange partners at TribLIVE, Levin can buy back the brand as well as the 32 Levin and Wolf furniture stores in Pennsylvania and Ohio.
Last week, Levin announced he reached a $25.7 million deal to buy back Levin Furniture out of bankruptcy months after a previous deal to save his company fell through. According to a release, Levin had previously reached an agreement with Art Van Furniture to buy back the company in March, but that deal fell apart when Art Van Furniture -- citing the COVID-19 pandemic -- closed its doors and terminated all employees across the entire company.
TribLIVE reported the $25.7 million approved bid includes a $10 million fund that will be set aside to compensate more than 1,000 customers in Ohio and Pennsylvania who paid for or made deposits on furniture that Art Van’s owners never delivered.
Information will be posted on the company’s website about how customers can get restitution.
Details on which locations will be reopening and timing will come later as the transaction is finalized.
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