Olivier Peardon, president and CEO of Brunschwig & Fils, has announced that the family-owned company has filed for Chapter 11 restructuring and, concurrently, that Kravet, a fourth generation family company, one of the largest privately held distributors of fabrics and home furnishings with locations worldwide, has agreed to buy Brunschwig & Fils subject to a competitive bid process.
Kravet has agreed to provide financing to ensure that Brunschwig & Fils can continue as a financially sound trading partner during the reorganization. Peardon stated, “The restructuring is a business decision that will not affect the quality of our products, or present and future orders. This restructuring will improve our services and supply chain flow. Our relationships with the lines we represent remain intact and the Brunschwig & Fils Design Studio is creating new patterns for future release.”
Brunschwig & Fils is an internationally respected brand that, for the past 110 years, has supplied luxury fabrics, wall coverings, trims, lighting, furniture and accessories. Kravet, throughout its 93 years in business, has firmly established itself as a distributor of high-end brands such as Lee Jofa and GP&J Baker.