What customers need to know about Loves Furniture’s bankruptcy filing

WARREN, Mich. – Customers of Loves Furniture, the company that acquired many closed stores from Art Van Furniture, are concerned after the company filed for bankruptcy.

The furniture retailer looked like a hero in 2020, when he moved when Art Van was in financial trouble, but now he has financial problems of his own and has closed several stores in Michigan that opened months ago.

It depends. If you are a customer who has paid and has not yet received the furniture, you should immediately call your bank or credit card company.

The Better Business Bureau said the situation is problematic for those who received their furniture, but it can be guaranteed. If that group includes you, don’t expect this guarantee to mean much.

Loves Furniture blamed the COVID pandemic and the slowdown in shipments from abroad. While this may be true, new revelations of major financial problems will not help the plight of many.

READ: Loves Furniture customers report long delays in delivery

In his bankruptcy filing, Loves revealed that he has between 100-200 creditors and owes $ 10 million to $ 50 million.