American Signature Inc., the parent company of American Signature Furniture and Value City Furniture, announced it filed for Chapter 11 bankruptcy in Delaware in a news release shared on Sunday (November 25).

The company said it plans to sell the business and expects to reach a purchase agreement with ASI Purchaser LLC.

“For nearly 75 years, American Signature has served as a family-owned furniture destination that communities could rely on to provide style, quality, and value,” said Rudy Morando , Co-Chief Restructuring Officer for American Signature Inc. “In the face of the ongoing macroeconomic headwinds that have impacted the entire home furnishing industry, the Company has carefully evaluated its options to assess the best path forward in the current operating environment. Thr

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