Amazon Furniture Supplier Noble House Files for Bankruptcy With Asset Sale Plans
Table Of Content
We are passionately committed to delivering innovative furnishing solutions with quality and value to enhance lifestyles worldwide. Beyond our customer-driven and eco-friendly efforts, our core values include honesty/integrity, passion, adaptability, teamwork, innovation, and trustworthiness. Since filing, Noble House asked for and received court permission to make emergency payments to keep its suppliers in good stead and prevent warehousers from seizing inventory. Without the ability to pay claims to vendors as they arise, Noble House would face “significant disruption to [the company’s] operations at this critical time,” it said in the filing. The company, which sells to some of the largest U.S. retailers, suffered from rising costs and disruptions in its supply chain. Noble House carries a core product base of 8,000 SKUs and sources from a network of more than 50 suppliers, based mainly in China, Malaysia, Vietnam and India.
OUR CORE VALUES
Noble House Home Furnishings joined the ranks of furniture suppliers to file for bankruptcy earlier this month, with the company blaming cost inflation and past supply chain disruptions, among other challenges. The latter company’s CEO, Gary Friedman, said that RH did not anticipate any interruptions from its supplier’s bankruptcy or from broader risk in the supply chain. When the company filed for Chapter 11, it owed suppliers and warehousers in its supply chain some $10 million from the period leading up to its bankruptcy, according to a court filing. Trade debts from importers and vendors in China and Vietnam make up a majority of the largest claims by the company’s unsecured creditors. Equipped with more than 2 million square feet of inventory, we offer an extensive selection of home furnishings and décor across all styles and price points. Noble House is reinventing the way people furnish their homes and carving the way for a new generation of online shoppers.
Noble House Furniture
With the ability to ship thousands of orders per day, we pride ourselves on efficient and quick fulfillment. Offering several brands, including Christopher Knight Home, Noble House is always ahead of the trends and market, making us a dominant force in the furniture industry. The company entered bankruptcy with a baseline bid from the logistics and technology firm GigaCloud Technology to buy it for $85 million. As it tried to stem the bleeding this year, the company cut costs by reducing headcount and optimizing its inventory management, according to Bella. Over time, as Noble House grows to partner with more retailers, create more product categories, offer more deals and values, and shift and change our strategies and processes to delight our customers, the following set of Core Values will always guide us as a united business.
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Special Values
With the majority of its merchandise originating in China, it was prone to logistics and production disruptions during the COVID-19 pandemic. Bella noted that “rising and persistent inflation, and supply chain challenges have put significant downward pressure on the Company’s business.” Those challenges, combined with liquidity shortfalls and falling sales, became a crisis. Noble House Home Furnishings has been in the furniture industry for over 20 years, and almost 10 in e-commerce. From indoor furnishings for any room to large outdoor sofa sets, we are continuously updating our wide and diverse range of products, designing more than 100 new items and styles on a monthly basis.
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