Bidders Line Up for Brunschwig & Fils
February 11, 2011,
NEW YORK-Brunschwig & Fils, the home-furnishings vendor that is in Chapter 11 bankruptcy, said a number of companies are set to bid when the auction for the 110-year-old firm takes place in March.
Last month, Benjamin Capital Advisors, which is acting as "chief restructuring officer" in Brunschwig & Fils' Chapter 11 case, said several investors had expressed interest in participating in the auction. One, Kravet, has already bid $6.5 million and has agreed to provide financing to Brunschwig & Fils during its reorganization. Kravet, which distributes fabrics and home furnishings, is itself a 93-year-old, family-held company whose brands include Lee Jofa and GP&J Baker.
Bids will be accepted until March 3, and the auction is scheduled for March 7.