Levin Furniture Going Out Of Business After Being Saved By Robert Levin 2 Weeks Ago

Over 1,000 jobs are lost but Levin says he will 'resuscitate' his family's company

Marty Griffin
March 20, 2020 - 12:41 pm
Levin

PITTSBURGH (Newsradio 1020 KDKA) - All Levin Furniture stores are now closed as of Friday and over 1,000 employees have been laid off, only a couple weeks after original owner Robert Levin said he was buying the company back.

Levin, still the former owner, had been in negotiations to re-purchase the store in bankruptcy, with the current owner funding operations in the interim.

“Two weeks ago, I joyously announced that I had agreed to buy back Levin Furniture and the Pennsylvania Wolf stores out of bankruptcy. Today, I have learned that the parent company of Levin’s and Wolf is unwilling to sell to me on the terms of our letter of intent. This is horrible,” Levin said in a statement.

Until now, Levin says the stores closed due to coronavirus, there just wasn’t enough cash to keep them open.

LISTEN: Robert Levin explains current situation with Levin's Furniture

Levin tells KDKA Radio’s Marty Griffin he is working on a plan to help with medical insurance costs for laid-off workers.

“I’m going to be establishing a fund to assist with that over the short term and I’m going to be working as hard as I can to get this thing . . . back on track."

Levin says his goal is to “resuscitate” the company but doesn’t know how long that will take.

In a release, Levin said he is taking the following actions: 1.) He is establishing a fund of $2 million to provide grants and loans to Levin and Wolf Employees to help them with their healthcare costs during this time of uncertainty; 2.) He will be engaging his advisors, and several former Levin executives, to develop a plan to bring Levin and Wolf back into business; and, 3.) He will be hiring a firm to closely monitor the way that the Bankruptcy Court is treating customer deposits that were given to the now bankrupt company.

He adds he’s also working to get furniture delivered to customers who recently made purchases.

Art Van Furniture bought Levin's 33 stores in 2017.

The first Levin Furniture store opened in Mt. Pleasant in 1920. Later this year, the company was set to celebrate its 100-year anniversary.

 

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