The Dallas based US Assets, Inc. says they are buying they are headquartering their Loves Furniture brand in metro Detroit, as they purchase inventory and stores from three furniture companies, including Art Van.
Loves Furniture, Inc. will purchase the inventory and assets of 27 stores that were operated under the Art Van Furniture, Levin Furniture, and Wolf Furniture brands in Michigan, Pennsylvania, Ohio, Illinois, Virginia, and Maryland.
The Michigan stores involved in the purchase are:
Taylor - 22035 Eureka Rd.
Royal Oak - 23201 N. Woodward Ave.
Warren - 13855 E. 8 Mile
Livonia - 29905 7 Mile Rd.
Waterford - 5053 Dixie Highway
Saginaw - 2660 Tittabawasse Rd.
Burton - 4095 E. Court St.
Bay City - 4150 Wilder Rd.
Portage - 550 Ring Rd.
Shelby Township - 14055 Hall Rd.
Port Huron - 1234 32nd St.
Howell - 4101 E. Grand River Ave.
Petoskey - 1619 Anderson Rd.
"Today's acquisition of these locations across the Midwest and Mid-Atlantic regions, represents a tremendous milestone for our company, our associates, and for the communities that we serve," said Matthew Damiani, CEO of Loves Furniture in a news release. "We are thrilled to announce an exciting new retail option for customers in these markets who have been looking for a more modern shopping experience."
Loves Furniture was founded earlier this year by investor Jeff Love.
"Our mission is to provide stylish products, authentic guidance, and an easy experience for our customers as we build comfortable spaces together," said Love. "We look forward to bringing a brand-new furniture and mattress offering to market very soon. Our excitement to open these 27 locations is only the beginning as we are already looking at opportunities to grow and expand our new brand with a much larger footprint."
The company says they expect to add over 1,000 new employees across the region, and says in many cases they see it as an opportunity to rehire workers who lost their jobs when their stores closed.
Art Van ceased operations during the early days of the COVID-19 pandemic in Michigan after declaring bankruptcy earlier this year.