I know this is a long shot that the belk family would want to spend money on a declining industry. but when private equty firm Thomas H. Lee Partners (THL) a private equity firm based in Boston purchased art van furniture and levin furniture using asset based financing like selling all real estate to pay for the deal striping any value that was left resulting in a over leverged bussiness . and when no leadership was put in place by management of (THL) on both name plates this resulted in art van and levin closing all of the're doors. when mr. Levin heard this info by a local tv station he decided to step out of retirement to rescue the company. he believed that since levin furniture had such a good name in the region that it still had a chance with good planning and leadership he also believed that he could't see his family's over 100 year legacy end this way. he also felt he was responsible for what happened to the family firm and all the employees. if mr. Levin was motivated to come save his family's legacy will the belks do the same?
1 reply
No