Furniture Brands hires restructuring advisers

Daily Journal
ST. LOUIS – Furniture Brands International has hired restructuring lawyers and advisers, according to the Wall Street Journal.

The company is working with law firm Paul, Hastings, Janofsky and Walker LLP, investment bank MIller Buckfire & Co. and turnaround adviser Alvarez & Marsal to examine alternatives, including Chapter 11 bankruptcy, the WSJ said.

The company last made an annual profit in 2006, and its sales have fallen by more than half since then.