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ABERDEEN – Action items receiving and filing letters from the Mississippi Department of Revenue regarding a number of industrial tax exemptions sparked discussion Jan. 3 about a recent U.S. Bankruptcy
United Furniture Industries Inc. has filed for federal Chapter 11 bankruptcy protection in an attempt to avoid an involuntary liquidation sought by its largest creditor, Wells Fargo & Co.
New details have emerged about United Furniture’s financial health and why its lender, Wells Fargo Bank, filed a petition on Friday to force the furniture company into Chapter 7 proceedings after its abrupt shutdown.
Wells Fargo & Co.'s claim of being owned $99.21 million in secured debt by United Furniture Industries Inc. is the driving force behind an involuntary bankruptcy petition against the manufacturer.
Wells Fargo & Co. and two other creditors have filed a petition to force United Furniture Industries Inc. into liquidating its assets as part of an involuntary federal bankruptcy protection