NORTHBROOK, Ill., Jan. 22, 2019 /PRNewswire/ -- The intellectual property of the oldest furniture manufacturer in the United States is being sold via a sealed bid sales process by PPL Group on February 1, 2019. Harden Furniture in McConnellsville, New York was founded in 1844 and has made high quality furniture for the White House and Congress, as well as selling through a nationwide dealer and retail network.
In 2018 the company went into foreclosure, largely as the result of a debt from a leveraged buyout in 2016. After two failed attempts to restart production, PPL Group conducted an auction sale of the all machinery and equipment in October 2018.
"The intellectual property, including all of the patterns, furniture designs, trademarks, customer lists, the website and more than 1700 high resolution product line photos, will allow this venerable brand to be reborn as part of another manufacturer's offerings," said Joel Bersh, at PPL Group in Northbrook, IL.
"The ideal outcome would be for an established manufacturer to purchase this historic brand name and bring it back to life," said Bersh.
PPL Group is one of the premier companies that builds creative and agile liquidity solutions for companies with distress or special situations. PPL does this via three different business units: Asset Disposition -- Purchasing and selling commercial and industrial assets, real estate, and entire facilities from individual owners up to Fortune 500 companies; Financing -- Quick and creative alternative financing solutions based on asset value for small and middle-market companies in need of liquidity; Private Equity -- Equity investments in small and middle-market distressed manufacturing companies. Contact the company at www.pplgroupllc.com
Contact: Tom Nicholson, 212-203-2803
SOURCE PPL Group