Masco's mega furniture closeout sale: Wood & Wood Products August 1995.News item: On June 8, Masco Corp. announced its intention to sell off its Home Furnishings Group. Psst! Got a billion bucks to spare? Then Masco Corp.'s Home Furnishings Group could be yours. That's right. For a mere $1 billion (maybe a few $100 million more), you or your investment partnership can be part of the biggest furniture closeout closeout, closure the finalization of a feeding program in a feedlot. The cattle are sold and a balance sheet is struck which includes the costs of feeding and housing or confining them. ever. Everything must go! Here's your chance to own some of the best-known names in the furniture industry including Henredon, Drexel Heritage, Lexington, Universal, Berkline and Benchcraft. As an added bonus, the winning bidder also gets the keys to several decorative accessory and fabric supply businesses. Combined, these operations account for $1.9 billion in annual sales. They employ 33,500 people in 12 states and 12 countries and operate more than 85 worldwide production facilities with more than 22 million square feet of manufacturing space. Act now and you also get dibs on the leases for 600,000 square feet of prime product showroom space in High Point and 320,000 square feet of designer and trade display space ha key markets across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Sorry, only bids for the whole pie will be considered. Individual slices are not for sale nor does this special offer include Masco's Cabinet Group, made up of Merillat, Kraftmaid, Starmark and Fieldstone field·stone n. A stone occurring naturally in fields, often used as a building material. Noun 1. fieldstone - stone that occurs naturally in fields; often used as building material . Contact Ron Jones Ron Jones is the name of several well-known people:
Fast Forward: A potential deal for Masco to sell its home furnishings group to Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Capital Partners for $1.1 billion
fell through Jan. 4, 1996. Later that year, through a leveraged buyout leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. valued at $1.1 billion, the group assumed the name Lifestyle Furnishings
International. Lifestyle subsequently sold Henredon, Drexel Heritage and
Maitland-Smith to Furniture Brands International in December 2001.
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