United Furniture Industries, Inc. Commences Sale Process of Real Estate Portfolio in Connection with Chapter 11 Liquidation

United Furniture Industries, Inc. Commences Sale Process of Real Estate Portfolio
in Connection with Chapter 11 Liquidation

B. Riley is operating the sale of the Lane Furniture real estate portfolio

April 19, 2023 -- B. Riley Real Estate, LLC ("B. Riley") is acting as real estate advisor to United Furniture Industries, Inc. (the "Debtor") in connection with its Chapter 11 liquidation and has commenced the sale process for the Lane Furniture real estate portfolio on behalf of the Debtor.

Founded in 1912, Lane Furniture operated as one of the largest upholstered furniture manufacturers and distributors in the United States. Its real estate portfolio includes 14 properties strategically located throughout Mississippi and North Carolina with 5 million square feet and over 700 acres of core manufacturing, warehouse and distribution facilities, in addition to vacant land holdings.

This sale offers opportunities for local redevelopment and provides the necessary infrastructure to support a broad range of new manufacturing and distribution uses. Offers for the full portfolio, a subset, and individual properties will be considered.

Stalking horse bids will be accepted through May 12, 2023. The portfolio will be sold at a concluding auction, tentatively scheduled for late June 2023. Formal bidding and sale procedures were filed with, and are subject to the approval of the Bankruptcy Court.

To learn more about the sale process, or for additional information on the Lane Furniture real estate portfolio, please visit www.brileyre-UFI.com or contact Jim Terrell at jterrell@brileyfin.com or (815) 355-0880 or Chris Draper at cdraper@brileyfin.com or (312) 894-7625.

Lane Furniture Real Estate Portfolio Assets for Sale

Property Address	City	State	Zip Code	County	Square Footage	Acres	Type
61312 Hwy 278 East	Amory	MS	38821	Monroe	179,506	12.8	Warehouse
60063 Puckett Drive	Amory	MS	38821	Monroe	379,450	28.2	Various
311 Martin Luther King Dr	Amory	MS	38821	Monroe	42,900	12.6	Lumber Yard
212 108th	Amory	MS	38821	Monroe	45,095	3.4	Warehouse
3301 Adams Farm Rd	Belden	MS	38826	Lee	711,650	76.7	Warehouse
389 Hwy 6 East	Nettleton	MS	38858	Monroe	434,000	49.4	Production
30440 MS-41	Nettleton	MS	38858	Monroe	507,200	155.3	Warehouse
431 E Monroe Ave	Okolona	MS	38860	Chickasaw	626,500	51.6	Production
0 Laster Road	Okolona	MS	38860	Chickasaw	N/A	5.0	Vacant Land
5380 Hwy 145 South	Tupelo	MS	33801	Lee	492,000	91.8	Warehouse
Mccullough Blvd & I-22	Tupelo	MS	38804	Lee	N/A	72.3	Vacant Land
210 East Sweet Potato St	Vardaman	MS	38878	Calhoun	138,122	9.9	Production
315-325 Kettering Rd	High Point	NC	27263	Guilford	188,999	11.3	Production
100 United Furniture Dr	Lexington	NC	27292	Davidson	375,310	13.1	Production
3761 Old Glenola Rd	Trinity	NC	27370	Randolph	196,400	55.1	Production
401 W Hanes Mill Rd	Winston Salem	NC	27105	Forsyth	705,599	54.5	Various

About B. Riley Real Estate, LLC

B. Riley Real Estate advises companies, financial institutions, investors, family offices and individuals on projects in order to preserve and maximize real estate value. Real estate solutions span acquisitions and sales, lease restructuring, construction dispute services, rent reductions, terminations and renewals; sale-leasebacks and auctions; and capital solutions to support acquisitions and dispositions. B. Riley serves clients across the retail, office, education, industrial, manufacturing, distribution centers, restaurant, grocery store, multi-family housing and health services industries. The firm is a wholly owned subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY).

B. Riley Financial is a diversified financial services platform that delivers tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. Through its affiliated subsidiaries, B. Riley provides end-to-end, collaborative financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction, and liquidation services.

B. Riley refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliates.

Media:

Jo Anne McCusker

B. Riley Financial

press@brileyfin.com

(646) 885-5425