PITTSBURGH (KDKA) - Robert Levin says he has reached an agreement to save his company from bankruptcy.
Levin had reached an agreement to rescue his business earlier in March, but weeks later said the parent company of Levin Furniture and Wolf Furniture terminated the agreement to sell the businesses back to him, citing the coronavirus pandemic.
With that deal dead, Levin Furniture stores were going to enter into Chapter 7 bankruptcy and be liquidated.
However, on Tuesday, Levin said he reached an agreement to reacquire the Levin Furniture brand out of bankruptcy. That deal is expected to be approved in the next two weeks and it will allow for certain stores to reopen in Pennsylvania and Ohio.
- Robert Levin Sends Employees $1,500 Checks After Promising Them His Financial Support
- Levin Furniture Entering Into Chapter 7 Bankruptcy, Will Be Liquidated
- 'I Would Not Have Expected That From Levin': Customers Still Waiting For Furniture As Bankruptcy Proceedings Continue For Levin Furniture
- Deal For Robert Levin To Buy Back Levin Furniture Falls Through
- Robert Levin Buys Back His Furniture Company To Save 1,200 Jobs
"We have worked tirelessly over the past two months for an opportunity to buy back the Levin Furniture brand," said Robert Levin in a press release.
"My goals have always been to protect as many jobs as possible for Levin associates, and to continue to serve our loyal customers. Today's agreement is the first step in accomplishing those goals."
Levin plans to help all of the customers who were left without their furniture or refunds when the business had to shut its doors.
for more features.