Kravet provides financing & bids to purchase Brunschwig & Fils
19 Jan '11
2 min read
Olivier Peardon, President and Chief Executive Officer of Brunschwig & Fils, announced that the family-owned company has filed for Chapter 11 restructuring and, concurrently, that Kravet, a fourth generation family company, one of the largest privately held distributors of fabrics and home furnishings with locations worldwide, has agreed to buy Brunschwig & Fils subject to a competitive bid process.
Kravet has agreed to provide financing to ensure that Brunschwig & Fils can continue as a financially sound trading partner during this time of reorganization.
Mr. Peardon stated, "The restructuring is a business decision that will not affect the quality of our products, or present and future orders. This restructuring will improve our services and supply chain flow. Our relationships with the lines we represent remain intact and the Brunschwig & Fils Design Studio is creating new patterns for future release."
Brunschwig & Fils is an internationally respected brand that, for the past 110 years, has been the preeminent destination for luxury fabrics, wall coverings, trims, lighting, furniture and accessories.
Kravet, throughout its 93 years in business, has firmly established itself as a distributor of high-end brands such as Lee Jofa and GP&J Baker.
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.
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