Broyhill is one of the most iconic furniture brands in America. Founded in Lenoir, North Carolina in 1906, Broyhill has been making high-quality furniture for over a century.
In recent years, however, the company has been struggling financially. In 2016, Broyhill was purchased by Heritage Home Group, which also owns several other furniture brands including Thomasville and Henredon.
Heritage Home Group then filed for bankruptcy in 2018, and as a result, Broyhill was put up for sale. In 2019, Big Lots announced that it had agreed to purchase Broyhill from Heritage Home Group. The deal is expected to close later this year.
Big Lots is a discount retailer that is headquartered in Columbus, Ohio. The company operates over 1,400 stores across the United States. Big Lots has been expanding its furniture business in recent years, and the acquisition of Broyhill will help to further solidify its position in the market.
The sale of Broyhill to Big Lots represents a good opportunity for both companies. Big Lots will gain a well-known brand that will help to boost its furniture sales, while Broyhill will get a new owner with the financial resources to invest in the company and help it return to profitability.
