Seven of Value City Furniture’s stores in Michigan are closing after its parent company, American Signature Inc., filed for Chapter 11 bankruptcy.
According to Value City’s website, five of the locations are in Metro Detroit, including Ann Arbor, Dearborn and Novi. It is unknown when the stores will close, but the company says that all of the impacted stores are on sale.
American Signature Inc. announced on Nov. 23 that it filed for bankruptcy after more than 70 years, according to a news release. In the meantime, the parent company said it will fulfill customer orders through the court process…