Former owner to buy back Levin Furniture, some stores to reopen
Levin Furniture is becoming a family business again with Robert Levin set to repurchase the company.
Levin originally sold the company to Art Van Furniture in 2017.
Art Van recently declared bankruptcy and Robert Levin's $25.7 million bid to buy the company was approved by bankruptcy court.
That bid includes $10 million in funds that will be used to deliver furniture to more than 1,000 customers that never received their furniture under Art Van ownership.
Robert Levin is partnering with the owners of Ashley Furniture in the deal. John and Matt Schultz will become co-CEO's while Levin will serve as Chairman of the Board.
The furniture chain was founded back in 1920 by Robert Levin's grandfather.
An announcement on which stores will reopen is expected to come in the summer as the company is waiting to finalize the deal.