Former Furniture Brands requests approval of $3 million property sale

By Caroline Salls

Pittsburgh, Dec. 18 - FBI Wind Down, Inc., formerly Furniture Brands International, requested court approval of the $3 million private sale of debtor LHFR Wind Down, Inc.'s Roble Road property in Allentown, Pa., to Roble Street Realty Inc., according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

FBI Wind Down said the seller has leased the property to Ice River Springs USA, Inc. under an office-warehouse lease agreement since 2012.

The lease contains a purchase option under which the tenant can purchase the property any time after the 12th month of the agreement for $3 million.

According to the motion, Ice River Springs is exercising that option. Roble Street Realty is a related entity of the tenant.

A hearing is scheduled for Jan. 7.

Furniture Brands, a St. Louis-based designer, manufacturer and retailer of home furnishings, filed for bankruptcy on Sept. 9. The Chapter 11 case number is 13-12329.

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