NEW YORK, Feb. 10, 2011 /PRNewswire/ -- For the past 110 years, Brunschwig & Fils has been the preeminent to-the-trade destination for luxury home furnishings including fabrics, wall coverings, trims, lighting, furniture and accessories. The iconic brand name has drawn significant interest from national and international, financial and strategic potential bidders.
Benjamin Capital Advisors, Inc., chief restructuring officer in the Brunschwig & Fils Chapter 11 filing, announced that several strategic and financial investors have expressed interest in participating in the March auction for the internationally renowned luxury home goods company.
In announcing the Chapter 11 restructuring on January 18th, it was also made public that Kravet, one of the largest privately held distributors of fabrics and luxury home furnishings with locations worldwide, has placed a bid of $6.5 million dollars for Brunschwig & Fils. Additionally, Kravet has agreed to provide financing to the company during this time of reorganization ensuring that Brunschwig & Fils continues as a financially sound trading partner.
Bids are accepted until March 3rd with the auction taking place on March 7th at the offices of Halperin Battaglia & Raicht, LLP, 555 Madison Avenue, 9th floor, New York, NY 10022-3301. The auction will be lead by Mr. Benjamin who will seek the highest and best bid.
Kravet, a family held company for 93 years, has firmly established itself as a distributor of high-end brands such as Lee Jofa and GP&J Baker.
For information on the Chapter 11 filing or the auction process, please contact: Halperin Battaglia & Raicht, LLP, 212-765-9100, Alan D. Halperin, firstname.lastname@example.org or Robert D. Raicht, email@example.com, or Charles D. Benjamin of Benjamin Capital Advisors, Inc., 914-821-1826.
Brunschwig & Fils: Over one hundred and ten years ago, Brunschwig & Fils was founded as a tapestry weaving mill in Aubusson and Bohain, France. Brunschwig & Fils designs and distributes traditional and contemporary decorative fabrics, wall coverings, trimmings, upholstered furniture, lamps, tables, mirrors and accessories. All design is performed in-house at the Studio in the Decoration & Design Building, NYC and they work with 150 mills around the world. The company is headquartered in White Plains, NY with 21 national and international showrooms. Additionally, there are agents and distributors in 24 countries.
SOURCE Brunschwig & Fils