San Francisco Thursday.
AVF Holdings, which is owned by private equity firm Thomas H. Lee Partners, will shutter its company-owned stores in Michigan, Illinois, Indiana, Maryland, Missouri, Ohio and Virginia. The company's stores include Art Van Furniture, Art Van PureSleep, Scott Shuptrine Interiors and Wolf Furniture. Liquidation sales are expected to begin Friday. About 3,100 employees are expected to lose their jobs, according to The Detroit News.
Private equity = greed. Suck companies dry and closes them down.
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