The Art Van Furniture chain appears to be in financial trouble, but don’t look for stores to be closing any time soon. Crain’s Detroit has reported that the chain could be headed to bankruptcy, but the company has issued a statement assuring that it is business as usual for customers.
The chain has 200 stores including one in Port Huron Township. The Art Van sign remains in Downtown Port Huron at the old Sears building, but there has not been a downtown store in several years. Art Van was started by Art Van Elslander in 1959 with the first store in East Detroit. It has since grown to be a leading furniture retailer in the Midwest, with headquarters in Warren. It is known for its financing options and clearance centers. It has also made local headlines as recognizing local “heroes” with awards and prizes.
The company addressed the reports of bankruptcy with the statement saying they are, “actively exploring a variety of options with creditors, investors, and landlords to ensure Art Van can continue serving our guests and our communities. It is premature at this time to comment further as no final decisions have been made. In the meantime, our stores are open, and it is business as usual.”