Robert Levin, in a March 20 press release, announced that the previously agreed upon deal for him to buy back Levin’s Furniture from Art Van Furniture, LLC, the business’ parent company, and the Pennsylvania Wolf Furniture stores, has been terminated.
“Two weeks ago, I joyously announced that I had agreed to buy back Levin Furniture and the Pennsylvania Wolf stores out of bankruptcy,” Levin said in a statement. “Today, I have learned that the parent company of Levin’s and Wolf is unwilling to sell to me on the terms of our letter of intent.”
As noted in the March 20 issue of the Chronicle (“Robert Levin forgoes retirement for job preservation”), the former CEO remains committed to serving Levin and Wolf employees. Moving forward, the Squirrel Hill resident plans on creating a $2 million fund, available for grants and loans to Levin and Wolf employees, to help with health care costs. He will also hire a firm to “closely monitor the way that the bankruptcy court is treating customer deposits that were given to the now bankrupt company.”
Art Van Furniture could not be reached for comment as of press time. But the company sent the following message to customers on March 19: “Due to the unprecedented circumstances related to COVID-19, and consistent with guidance issued by federal, state and local public health authorities, we have made the difficult decision to suspend all sales operations in all of our stores, effective immediately.
“We would like to extend our sincere empathy for the extraordinary hardship so many of our customers, employees and communities are facing. Unfortunately, a confluence of factors has left us with no alternative at this time but to take this action and notify you in as orderly a way as we possibly can. We thank you for your patronage and hope that you and your families stay safe and well during this very challenging time.” PJC
Adam Reinherz can be reached at email@example.com.