Founded in 1983 in Northern Mississippi, United Furniture Industries manufactured upholstery and case goods and was one of the largest furniture producers in the United States with 19 manufacturing locations strategically placed across the country. UFI is well known as the manufacturer of Lane Home Furnishings. At its peak, UFI employed 1,000s in the manufacture and distribution of its products and had annual revenue of more than $500 Million. UFI closed its facilities in November of 2022 and entered bankruptcy in December 2022.

The JV will market and sell certain of UFI’s inventory including finished goods, kit inventory, and in-transit inventory. The JV will also sell the raw materials used in the manufacturing of inventory. Sales will be negotiated with existing UFI customers, who have a familiarity with the product, new customers including national and regional furniture retailers, as well as wholesalers, jobbers, and brokers.

The JV will conduct a sale of UFI’s owned machinery, equipment, transportation fleet, rolling stock, furniture, fixtures, and other personal property (the “M&E” and “FF&E”) located in the manufacturing facilities, warehouses, distribution centers, and fulfillment centers. The M&E and FF&E will be sold through a series of private treaty sales.

For inventory and merchandise inquiries please email: UFIMerchandiseInquiries@hilcoglobal.com

The JV will also collect, service, and settle the outstanding accounts receivable on behalf of UFI.

“UFI’s products are well-known and sold in stores from coast to coast,” said a representative of the JV. “This will be a unique opportunity for stores to build an in-stock position and do so with a value component that will resonate with consumers.”

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About SB360 Capital Partners – SB360 Capital Partners (www.sb360.com), a Schottenstein Affiliate, helps businesses manage change, restructure assets, and turn around dwindling profitability. SB360 makes equity investments to infuse capital for growth opportunities, fund turnarounds, and provide liquidity to businesses experiencing change. SB360 acquires assets of all types including inventory, fixed assets, intellectual property, real estate, and complete business units. The firm’s asset disposition services range from providing guaranteed asset value recovery to acting as a liquidation consultant. Additionally, SB360 has entities engaged in real estate advisory and commercial real estate investment. A lending affiliate, Second Avenue Capital Partners, provides asset-based loans for middle-market companies. The principals of SB360 hold extensive commercial interests in national retail and wholesale operations; internationally recognized consumer brands; commercial, residential, and industrial real estate properties; and financial service operations.

About Hilco Global – Hilco Global (www.hilcoglobal.com) is a privately held diversified financial services company and the world’s preeminent authority on maximizing the value of assets for both healthy and distressed companies.  Hilco Global financial services leverage a unique blend of deep restructuring and advisory experience with capital solutions and principal investing. Hilco Global delivers customized solutions to undervalued, high potential companies to resolve complex and stressed situations and enhance long-term enterprise value.  Hilco Global operates as a holding company comprised of over twenty specialized business units that work to help companies understand the value of their assets and as needed monetize the value. Hilco Global has almost 4 decades of a successful track record of acting as an advisor, agent, investor and/or principal in any transaction. Hilco Global works to deliver the best possible result by aligning interests with clients and providing them strategic insight, advice, and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has 700 professionals operating on five continents with US offices located in Boston, Detroit, Chicago, New York, Philadelphia, and internationally in Australia, Canada, UK, Germany, Netherlands, Mexico and throughout Asia.