Filing Alert: American Signature Chapter 11
American Signature Files Chapter 11 in District of Delaware
Update (Nov. 24, 2025): A comprehensive case summary is now available for the Chapter 11 bankruptcy filing of American Signature, Inc.
American Signature, Inc. and its debtor affiliates⁽¹⁾, a Columbus, OH-based residential furniture retailer operating the Value City Furniture and American Signature Furniture chains, filed for Chapter 11 protection on Nov. 22 in the U.S. Bankruptcy Court for the District of Delaware.
The filing aims to facilitate an expedited sale of the business, with ASI Purchaser, LLC—an affiliate of the company's current equity holders, the Schottenstein family—serving as the stalking horse bidder. The company, which operates over 120 stores across 17 states, faced significant headwinds from a post-pandemic decline in furniture demand, housing market stagnation, and inflationary pressures, resulting in net operating losses of $70 million in fiscal year 2025. Prepetition, the company commenced liquidation sales at 33 stores with consultant SB360.
To fund the case and sale process, the debtors have secured a commitment for a $50 million DIP facility from their prepetition asset-based lenders (SACP), along with consensual use of cash collateral.
The company reports $100 million to $500 million in assets and $500 million to $1 billion in liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-12105.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Counsel:
- Laura Davis Jones
Pachulski Stang Ziehl & Jones LLP
Email: ljones@pszjlaw.com
Financial Advisor / CRO:
- Berkeley Research Group, LLC (Rudy Morando)
Investment Banker:
- SSG Capital Advisors, LLC
Special Counsel to Represent and Assist the Conflicts Committee:
- Goodwin Procter LLP
- Potter Anderson & Corroon LLP
Claims Agent:
- Kurtzman Carson Consultants, LLC dba Verita Global
Equity Security Holders:
- Schottenstein Stores Corporation – 100% Equity Interest
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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