KPS May Enter Rival Bid For Bankrupt Furniture Brands

Law360, Wilmington (September 11, 2013, 8:02 PM EDT) -- Private equity firm KPS Capital Partners LP crashed Furniture Brands International Inc.'s first-day hearing in Delaware bankruptcy court on Wednesday by signaling it was considering lodging a rival offer and alternative financing to prepetion lender Oaktree Capital Management’s $166 million bid and $140 million bankruptcy loan.

The announcement at the beginning of the hearing in Wilmington, details of which were not publicly disclosed, prompted hours of closed-door negotiations among the parties before Oaktree came back with what the debtors said were improved loan terms that were...
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