Value City Furniture parent files Chapter 11, seeks buyer

A well-known furniture chain with at least four Pittsburgh stores has filed for protection from creditors via Chapter 11 and seeks a buyer.

Columbus, Ohio-based American Signature Inc. operates in multiple metros including Pittsburgh as Value City Furniture and in others under its namesake brand. ASI said in a release that it began a court-supervised process on Nov. 22 to facilitate a sale process in the hope of a competitive auction within 45 days.

ASI said it expects to enter into a stalking horse asset purchase agreement with ASI Purchaser LLC, with the buyer acquiring substantially all of its assets and assuming certain related liabilities.

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