- Associated Press - Friday, March 28, 2014

VERONA, Miss. (AP) - Lane Furniture’s parent company is putting location in Verona, Miss., up for auction.

Heritage Home Group is the umbrella company for Lane, Broyhill, Thomasville, Drexel Heritage, Maitland Smith and other furniture companies that were once part of the now-defunct Furniture Brands International.

Heritage announced Thursday it is auctioning is the Verona building, where Lane’s nearly 424,000-square-foot facility was used most recently as warehouse and office space.

The Northeast Mississippi Daily Journal reports (https://bit.ly/1h2ARJP ) that Heritage also is auctioning 17 Thomasville and Lane properties in all, mostly in North Carolina, Virginia and Tennessee. The facilities are former manufacturing plants, warehouse and distribution centers and administrative buildings.

Hilco Real Estate of Northbrook, Ill., set a June 19 deadline for bids. Buyers can purchase the properties individually or in any combination, the company said.

Heritage was formed after KPS Capital Partners bought most of the assets of Furniture Brands for $280 million in a bankruptcy court-approved deal in December.

KPS had indicated it would offer jobs to most of Furniture Brands’ 4,000 remaining employees, but in January, Heritage said it would shutter Lane’s Saltillo plant by March 21, putting 480 people out of work.

Heritage owns an 830,200-square-foot facility in Saltillo, Miss., and a 715,951-square-foot plant in Tupelo, which remains open. It leases a 494,813-square-foot distribution center in Wren.

Lane, which was founded in 1912 in Virginia and merged with Tupelo-based Action Industries in 1972.


Information from: Northeast Mississippi Daily Journal, https://djournal.com

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