Hilco Real Estate Announces a Bid Deadline of June 19, 2014 for Properties in Furniture Brands Bankruptcy

NORTHBROOK, Ill., March 26, 2014 (GLOBE NEWSWIRE) -- Hilco Real Estate, LLC today announced a call for offers deadline of June 19, 2014 for a portfolio of real estate assets involved in the Furniture Brands International bankruptcy case. A total of 17 Thomasville and Lane real estate, ranging from manufacturing and distribution facilities to prime development land, located throughout Mississippi, North Carolina, Tennessee and Virginia are included in this offering.  

Furniture Brands International, a world leader in the design and manufacture of well-known home furnishing brands including Thomasville, Broyhill, Lane, and Drexel Heritage among others, filed for Chapter 11 bankruptcy protection late in 2013.  As part of the wind-down and liquidation of the Furniture Brands business, these properties being marketed are some of the last remaining assets in the Estate.

Among the 17 real estate assets being sold are a number of marquee properties, including a 353,000 SF facility that served as the Thomasville brand headquarters for nearly 100 years located in Thomasville, North Carolina, a 430,000 SF manufacturing/distribution facility offering significant office space and a robust data center in Tupelo, Mississippi, and an 800,000 SF manufacturing facility set on 85 acres in Appomattox, Virginia.  A complete list of the 17 properties within the portfolio, including general descriptions and due diligence information is available for viewing at:

www.HilcoRealEstate.com/FurnitureBrandsCh11
 
The format and structure of the sale allows for the properties to be purchased individually or in any combination. The deadline for submitting bids to Hilco is scheduled for June 19, 2014.

Commenting on the portfolio of properties being sold, Joel Schneider, Sr. Vice President of Hilco Real Estate, said, "The buildings in this portfolio offer a number of structural and location-related attributes that will be very attractive to a wide variety of potential buyers.  As such, we expect this sale to attract active interest from a broad spectrum of real estate investors, developers and end users."  He added, "Virtually all sites could be converted for other uses.  Many of the sites are located close to interstate highways, rail lines, and major state routes."

For more information about bid qualifications and further details about the properties available, please visit www.HilcoRealEstate.com or contact a member of our transactional team at 847-849-2939.

About Hilco Real Estate, LLC:  Hilco Real Estate, LLC ("HRE"), a Hilco Global company, is headquartered in Northbrook, Illinois (USA).  HRE is a national provider of strategic real estate disposition services.  Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets.  By leveraging multi-faceted sales strategies & techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.