Meet&CoWEST JORDAN, Utah — Walker Edison, an online-ready-to-assemble (RTA) furniture company, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware on August 28. The company, operating under several entities including Walker Edison Holdco LLC, Walker Edison Intermediate LLC, and others, revealed a significant financial gap, listing assets between $0 and $50,000 and liabilities ranging from $100 million to $500 million, with fewer than 50 creditors. In 2024, the company reported gross sales of approximately $124.6 million.
In its filing, Walker Edison outlined discussions on August 26 with investment bank Lincoln International to explore a stalking horse agreement with Twin-Star International, a Florida-based company specializing in indoor and outdoor furniture. The deal, which involves the purchase of nearly all Walker Edison’s assets for $20 million, was identified as the most promising offer to preserve both the company’s value and employee jobs. Thomas Walper, the company’s bankruptcy lawyer, and the special committee of the board recommended moving forward with the agreement.
Additionally, the company is negotiating a debtor-in-possession loan agreement with Blue Owl Capital Corp. for $13 million in two separate loans. In a first-day motion, Chief Financial Officer Nate Brown emphasized that the company had struggled to stabilize its operations since the original owners stepped away in 2023, leaving the current owners, who are term lenders, to take charge. He explained that selling the assets to Twin-Star International was the most viable option to protect jobs and ensure the continuation of the company’s high-quality furniture lines.
Walker Edison operates solely through e-commerce, selling products directly via its website and through major platforms like Wayfair, Amazon, Walmart, Target, and Home Depot. Its primary suppliers are based in Asia and Brazil, many of which are listed among its creditors.
