What customers need to know about filing for Loves Furniture bankruptcy

WARREN, me. – Customers of Loves Furniture, the company that took over many closed Art Van Furniture locations, are worried after the company went bankrupt.

The furniture retailer looked like a hero in 2020, when it moved when Art Van had financial problems, but now it has its own financial problems and closed a number of locations in Michigan that opened a few months ago.

Depends. If you are a customer who has paid and has not yet received furniture, you should call the bank or credit card company immediately.

The Better Business Bureau said the situation was problematic for those who received their furniture, but could have a guarantee. If that group includes you, don’t expect this guarantee to mean much.

Loves Furniture blames the COVID pandemic and the slowdown in foreign transport. While this may be true, the new disclosures of major financial problems will not help the situation for many.

READ: Loves Furniture customers report long delivery delays

In the bankruptcy process, Loves revealed that it has between 100-200 creditors and owes between 10 and 50 million dollars.