ABC Carpet & Home is scrambling to stave off bankruptcy: sources
NY Post
Swanky furniture retailer ABC Carpet & Home is scrambling to stave off bankruptcy in the wake of the pandemic, The Post has learned.
The 125-year-old outlet — known for its luxurious stash of home goods, from $375 velvet throw pillows to $12,000 silk-and-wool rugs — recently retained an investment bank and a top restructuring lawyer to help it stay afloat, according to sources. The company is “exploring whether bankruptcy makes sense,” said a source with knowledge of the situation, adding that fourth-generation owner Paulette Cole has personally poured millions of dollars into the business to keep it going during the pandemic.More Related News