TUPELO, Miss. (WTVA) -- The owner of Lane Furniture has hired restructuring advisors and a turnaround firm.
The Wall Street Journal reports those advisors to Furniture Brands are examining several alternatives, including chapter eleven bankruptcy.
The company’s stock on Tuesday has been down as low as 54 cents a share.
Its 52-week high was $12.74.
Furniture Brands reported a nearly $41 million loss in the second quarter.
It has Lane Furniture plants in Saltillo, Belden, and Verona and a distribution center in Wren.