Not unlike the fashion industry, the furniture industry is largely cyclical: trends that were popular decades ago are reappearing, and vintage pieces gain popularity over time. That’s just one of the reasons we’re seeing a flood of commission furniture here and across the country. Local shops offering consignment pieces from all different eras are seeing … Read more
Wells Fargo & Co. is opposing United Furniture Industries Inc.’s Chapter 11 filing for bankruptcy protection, saying it is “an exercise in revisionist history” and only benefits the manufacturer’s majority owner, David Belford. Wells Fargo is United’s largest creditor. A Dec. 30 court filing seeking United’s Chapter 7 liquidation said he owed $99.21 million in … Read more
Jan 5 (Reuters) – Daniel Friedberg, former top lawyer for FTX, has been cooperating with US prosecutors in the investigation into the crypto firm’s collapse, a source familiar with the matter has said, putting pressure on founder Sam Bankman-Fried , who was arrested last month on criminal fraud charges . Friedberg provided details of FTX … Read more
Furniture World News Desk on 12/27/2022 First, RH CEO Gary Friedman was in a sober mood to deliver a sober message in the company’s most recent third-quarter 2022 earnings report. Although sales and operating margin exceeded the previous outlook, revenue declined 14% to $869 million from last year’s $1,006 million and … Read more
SAN JOSE, Calif., Dec. 20 (Reuters) – Mark Zuckerberg, chief executive of Meta Platforms Inc. (META.O), defended his acquisition of a virtual reality fitness app before an antitrust judge on Tuesday, arguing that his company is in the process of building an im Emerging virtual app will help reality industry, not dominate. Zuckerberg testified in … Read more
FTX unit bought 7 condos in high-end resort for ‘key personnel’ Bankman-Fried’s parents named owners of a $16.4 million vacation home Bankman and Fried tell Reuters: I am seeking the return of the deed to FTX NEW PROVIDENCE, Bahamas, Nov 22 (Reuters) – Sam Bankman-Frieds FTX, his parents and executives at the failed cryptocurrency exchange … Read more