Boston, United States
100 Federal St
N/A
Wheelchair-accessible entrance
Abruptly closed Art Van Furniture's 190 stores in nine states without warning or indication of financial struggles. The liquidation announcement seems both premature and peculiar. Typically a company would acknowledge problems, then seek buyers for its more inviting pieces before pulling the plug. Instead Thomas H. Lee Partner LP has destroyed the value of a 61 year-old company. Of the 190 locations, there’s not a single one turning a profit? ALL 3,100 of its employees will lose their jobs. Additionally, Art Van warranty buyers are out of luck amid the liquidation. Thomas H. Lee Partners LP are incompetent crooks.
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If someone started a class action lawsuit against this company I would sign up. Not only are they abruptly closing but they are using it to steal from people. Warranties aren’t being refunded. Stores are also setting f up deliveries , which is an additional charge, then not delivering and not refunding that charge. This company needs to lose everything and the owners need to serve time. This was thought out and intentional. LAWSUIT!!!!!!!!!
When you’re a private equity company, but you’re too cheap to hire a liquidator, you get the disaster that is happening in Detroit right now. They put everything on the shoulders of the employees loosing their job. They took money for orders that they knew would never be filled, then refused to refund. They literally had to pay local police because of the disruption they have caused. I hope other businesses think twice before selling to these criminals.
ALL Art Van employees should just quit and walk away. They are losing their jobs anyways. Why continue to help the Equity Partners try to recoup their money. If everyone left that would really put the owners in a bind and send a huge signal. It just not worth the chaos that these employees are being subjected to for the same wages as they made 2 weeks ago!
Inept when it comes to running a simple furniture business.
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