14655 Thu, 06/12/2008 - 12:12pm
CHARLOTTE, N.C.–JLA Home, a top-of-the-bed products manufacturer, has purchased all of the assets of International Home Furnishings, a supplier of blankets and other top-of-the-bed products.
The purchase price was not disclosed. IHF filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Western District of North Carolina, based here, on June 4. JLA, headed by Chief Executive Officer Edmund Jin, has formed a blanket division that will be headed by Dave Frazier and will include Tedd Smith, who will work with key accounts. Smith was president of IHF, and Frazier was IHF’s national sales manager.
In the filing, IHF listed total assets of $2,483,964 and total debt of $7,507,221.73. In its list of creditors holding the largest unsecured claims, three of the top four are disputed, according to the filing: Kmart at slightly less than $1.2 million; Veken, a China-based textiles producer, at $917,000; and Neworld Inc., a textiles manufacturer, at $350,000.