The private equity owner of Wolf Furniture is exploring a bankruptcy filing or possible sale of the store’s parent company, according to the Detroit News.
Boston-based Thomas H. Lee Partners is considering the options for Art Van Furniture, the Detroit-based firm that operates 190 stores in nine states, including Wolf Furniture, according to the news report.
Art Van Furniture’s other brands include Art Van PureSleep, Art Van Flooring, Scott Shuptrine Interiors, Levin Furniture, Levin Mattress and Gardiner Wolf Furniture.
The company issued a statement that confirmed the news report but didn’t offer details.
"We are actively exploring a variety of options with our creditors, investors and landlords to ensure Art Van can continue serving our guests and our communities. It is premature at this time to comment further as no final decisions have been made. In the meantime, our stores are open, and it is business as usual," the company said.
In addition to Lancaster store near the Rohrerstown Road exit of Route 30, there are also Wolf Furniture stores in Harrisburg, York and Mechanicsburg.