Posted on Mar 01, 2014

On Feb. 28, 2014, the Houston Chronicle reported that Houston's longtime furniture retailers filed chapter 11 bankruptcy, in the U.S. Bankruptcy Court for the Southern District of Texas.

The case was assigned to U.S. Bankruptcy Judge Karen K. Brown. The case was filed January 16, 2014, In re Finco, Inc., Case No. 14-30383.

The Chronicle reports that Finger Furniture was founded in 1927 by Sam Finger, who was known in the furniture industry as a pioneer. It had fallen on hard times in recent years, Rodney Finger brought back the brand in 2010 after a hiatus that started in 2008.

The company intends to liquidate, and close its stores. It is now holding going-out-of-business sales that will last through July. Some companies use chapter 11 to propose a plan of liquidation, as opposed to filing chapter 7 and have a trustee liquidate the business.

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J Thomas Black
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Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization