SB360 Capital Partners Selected as Exclusive Agent for Klaussner Furniture Industries' Inventory Disposition

News provided by

Oct 25, 2023, 08:00 ET

BOSTON, Oct. 25, 2023 /PRNewswire/ -- SB360 Capital Partners, a leading asset disposition and advisory firm, has been selected as the exclusive agent for the disposition of finished goods, work-in-process inventory, and raw materials for Klaussner Furniture Industries, Inc., an Asheboro, North Carolina-based furniture manufacturer. The engagement of SB360 will aid the orderly wind-down of operations following the closure of Klaussner's facilities in August.

Established in 1963, Klaussner Furniture Industries built a reputation for crafting quality home furnishings that blend style, comfort, and durability. Klaussner is headquartered in Asheboro and operates multiple manufacturing facilities and distribution centers across the United States. The company offers an expansive assortment of value-driven furniture products, including sofas, recliners, sectionals, bedroom sets, and dining room furniture.

SB360 Capital Partners has a track record of successfully assisting companies in various industries, from retail to manufacturing, with their inventory disposition needs. The firm's direct furniture affiliations and extensive furniture experience will be pivotal to optimizing the outcome of selling Klaussner's inventory. SB360 has worked with many well-known furniture retailers and manufacturers, including recent transactions with United Furniture Industries (Lane), Thomasville, Henredon, Drexel, Broyhill, Art Van, and Loves Furniture.

As Klaussner's products are highly desirable, SB360 will negotiate sales with Klaussner's existing customers, who are already familiar with the current models and styles available. In addition, SB360 will expand outreach to other national and regional furniture retailers and wholesale distributors. For inventory and merchandise inquiries, please email [email protected].

"Klaussner's products are sold by major retailers and furniture dealers across the country," said Aaron Miller, President of SB360 Capital Partners. "This is an opportunity for those retailers to expand their in-stock Klaussner offering and provide customers with a value proposition that will be meaningful as we head into the holiday season."

About SB360 Capital Partners – SB360 Capital Partners (sb360.com), a Schottenstein Affiliate, is one of North America's leading asset realization and merchant banking firms. The firm invests equity capital to support growth opportunities, fund business turnarounds, and provide liquidity to businesses navigating change. SB360 encompasses business groups involved in advisory services, asset disposition, luxury diamond and jewelry assets, new store sets, and commercial real estate advisory and investment. The firm's lending arm, Second Avenue Capital Partners, provides asset-based loans for middle-market companies. SB360's principals hold extensive financial interests in internationally recognized retail and wholesale companies, consumer brands, financial service operations, and commercial, residential and industrial real estate properties.

About Klaussner Furniture Industries, Inc. – Klaussner Furniture Industries, with a rich history dating back to 1963, is one of the largest furniture manufacturers in America. Headquartered in Asheboro, North Carolina, Klaussner has earned a reputation for crafting high-quality, stylish furniture that blends traditional craftsmanship with modern sensibilities. Klaussner's vast catalog of products and divisions includes Domestic Upholstery, Imported Upholstery, Domestic Motion, Case Goods, Sleep Systems, and Comfort Design. Six decades in the furniture manufacturing industry have established Klaussner as a trusted choice for those seeking functional and aesthetically pleasing furnishings that enhance the comfort and beauty of living spaces in homes across the United States.

SOURCE SB360 Capital Partners LLC