Overview
- American Signature Inc., parent of Value City Furniture and American Signature Furniture, filed for Chapter 11 in Delaware on Nov. 22 and will keep stores and websites operating during the case.
- Roughly 33 locations are being closed through liquidation sales that began in the fall and are expected to finish by late January 2026, with discounting underway.
- The retailer obtained about $50 million in debtor-in-possession financing from Second Avenue Capital Partners to fund operations and the sale process.
- An auction is targeted within about 45 days, and the company expects to enter a stalking-horse asset purchase agreement with ASI Purchaser LLC, which is tied to the Schottenstein family.
- Court filings cite a housing-market slump, higher interest rates, inflation, and tariffs as key pressures, and list assets of $100 million–$500 million, liabilities of $500 million–$1 billion, and 1,000–5,000 creditors.