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Van Elslander family pays $6 million to buy the Art Van name back Annalise Frank/Crain's Detroit Business Art Van's furniture stores are no more, but the family has bought back the brand name out of the bankruptcy of the company to which it had sold the chain. The Van Elslander family successfully acquired the Art Van Furniture name out of bankruptcy this month. A Delaware bankruptcy judge approved the roughly $6 million sale of the name to VEC LLC, an investment firm controlled by Gary Van Elslander — the son of the late founder Art Van Elslander — and the family office, on Feb. 1 as par...

The initial bankruptcy document offered few details about Loves Furniture's problems, but said the company has between 100 and 199 creditors and $10 million to $50 million in liabilities.  According to Loves' bankruptcy attorney, the company is looking to keep open its remaining 13 stores and bring in a liquidation company to run going-out-of-business sales for unsold furniture. Some of those stores still display "grand opening" banners. Loves Furniture would then seek a new owner for the stores as part of the bankruptcy process, according to attorney Max Newman of Butzel Long. More d...

The ‘retail apocalypse’ continues: 13 major chains that went out of business in 2020 Updated Jan 03, 2021; Posted Jan 03, 2021 Stein Mark on the Carlisle Pike is closing. The company had filed for bankruptcy earlier this month. (Megan Lavey-Heaton/PennLive.com) Facebook Share For brick-and-mortar retailers, 2020 has been more of the same “retail apocalypse,” just at a faster pace. Over the past decade we’ve seen stores were once mainstays in Pennsylvania -- Bon-Ton, HH Gregg and Toys R’ Us -- close. For a number of struggling retailers the pandemic just brought on the inevitable...

10 most-read ClickOnDetroit stories of 2020 that weren’t COVID related Year filled with big stories Published:  Tags:  2020 has been the busiest news years in recent history. Between a global pandemic, social unrest, a major U.S. election -- and everything else happening in the world -- the news did not stop in 2020. We’re taking a look at the most-read local stories on ClickOnDetroit this year, minus COVID-19 related coverage (because pretty much every most-read story was COVID related). 10. Puppy with cleft lip at Jackson animal shelter finds companion in boy with cleft lip From Sept...

Loves Furniture to close 9 more Michigan stores Loves Furniture plans to close nine more of its Michigan stores as it struggles to keep many former Art Van Furniture locations in business and stocked with inventory. Loves CEO Mack Peters said Wednesday that the company will be consolidating its footprint after the holidays to 13 stores — 12 in Michigan and one outside Toledo. Loves Furniture went into business in late summer with a total of 32 stores in Michigan, Ohio and Pennsylvania, employing nearly 950 people. Other stores are either closed or slated to close.   Some of the Mich...