The iconic Klaussner furniture brand is slowly winding down with the latest news that an asset advisory firm is seeking offers to acquire the last remnants of Klaussner's home furnishings brand.

Hilco Streambank is seeking offers to acquire the brand assets of the Klaussner home furnishings brand. Indications of interest to acquire the assets are due by March 28, 2024. The sale is being conducted on behalf of a court-appointed receiver.

Interested parties can click here to learn more or contact Hilco Streambank directly at [email protected].

Founded in 1963, Klaussner leveraged a rich history, growing into one of the largest privately-owned furniture companies in the United States offering value-driven products and speed-to-market innovation.

Last August, Klaussner unexpectedly closed, and in October an asset disposition and advisory firm was selected to dispose of finished goods, work-in-process inventory, and raw materials for Klaussner Furniture Industries. 

On March 1, the Winston-Salem Journal reported North Carolina Business Court Judge Michael Robinson declared the remaining assets and inventory of Klaussner Furniture Industries Inc. abandoned.

The Winston-Salem Journal said that Focus Management Group USA, Klaussner’s bankruptcy receiver, notified the court on Feb. 13 that it could not find a buyer for 43 containers of home furnishings goods.

According to the Hilco website, available assets include:

• Trademarks
• Domain Names
• Product Catalogue
• Wholesale Customer List

The sell-off may bring an end to one of the country's most respected furniture names. As late as 2022, the residential furniture company manufactured more than 70 percent of its products domestically through its five manufacturing campuses in North Carolina, including at its Asheboro, North Carolina, headquarters. Klaussner was ranked #36 on the FDMC 300, a listing of the largest North American wood products producers, with estimated sales of more than $300 million in 2022.

On  Klaussner's website, which is no longer functional, the company posted this statement:

"As the result of challenging and unexpected business circumstances impacting our operations, Klaussner Furniture Industries, Inc. and its direct and indirect subsidiaries ("Klaussner" or the "Company") must unexpectedly wind down the operations.

"Klaussner's lending source has unexpectedly refused to continue to fund the Company's operations. This outcome was not reasonably foreseeable, but due to these unexpected circumstances, Klaussner can no longer sustain its operations. As a result, Klaussner has made the difficult decision to permanently cease operations and is providing as much notice as possible.

"Klaussner anticipates closing all of its facilities entirely, and that process is underway as of today, August 7, 2023."

Klaussner reputably crafted high-quality, stylish furniture that blended traditional craftsmanship with modern sensibilities for both residential and commercial uses. Whether customers sought timeless pieces with detail or minimalist designs, Klaussner suited a diversity of interior design preferences.

Hilco Streambank Chief Commercial Officer and SVP Richelle Kalnit commented, "A buyer of the Klaussner brand has the opportunity to leverage brand equity which supported more than $200 million in annualized sales to provide customers with a comprehensive home furnishings offering." Kalnit continued, "The reliability of the brand will also give a buyer an avenue to reconnect with a desirable network of wholesale distributors, including furniture stores and online retailers."