Art Van is an American furniture store, one of the largest furniture store chains situated in the state of Michigan. Art Van was one of the largest furniture retailers in the Midwest until the company was charged with a lawsuit for bankruptcy and all of its stores were closed in 2020. Unfortunately, there is no value in the warranties given by Art Van furniture to their customers because all of their stores are closed after liquidation The warranty cards are just a piece of paper for the Art Van customers.
Art Van and its warranties:
To understand the Art Van Warranty, let’s first understand the concept of warranty.
What is the meaning of a
warranty?
A warranty is a written agreement between the buyer and seller of a product, showing the promise that the product can be repaired or replaced within a specific period.
Art Van’s warranty policies:
The company sold three types of warranty policies, categorized as
- Bronze
- Silver
- Gold
Bronze warranties:
In this policy, the company provides its warranty services for
- Two years
- Cost $50 to $475
- Covered “common accidental stains and damages”
- Silver warranties:
In this policy, the company provides its warranty services for
- Four years
- Cost $70 to $600
- Covered “all stains and a more comprehensive list of damages.”
- Golden warranties:
In this policy, the company provides its warranty services for
- Six years
- Cost $90 to $800
- Covered “structural integrity of furniture”
- Art Van warranty holders:
Unfortunately, the warranty holders of Art Van furniture are not going to get anything because Art Van is closed completely. The company is now bankrupt due to both internal and external missteps and factors.
How Art Van collapsed:
In 2017, the company was running so successfully. Quick and fast delivery was the successful policy of the company. The Art Van was sold in 2017 to Thomas H. Lee Partners LP. The company was sold approximately 58 years after it was founded.
- New management goes bankrupt:
The company never earns a profit after it is sold. Before its selling to Thomas H. Lee Partners LP, the company’s annual profit was nearly $17 million, but after it was vended, this company never had a profitable fiscal year.
- Art Van was sued was fraudulent transfer:
The case of “fraudulent transfer” was filed against the company by Alfred T. Giuliano, reclaiming $105 million from the Van Elslander (founder of Art Van) family to pay creditors. The family refused to pay anything saying, that they have no ownership of what happened to the company after it was sold.
- The company went into liquidation:
Due to a “fraudulent transfer” allegation, the company announced it would be closing all its stores, In March 2020. The company has no assets to honor the warranty holders of the company.
Some ways to get the Warranty of Art Van furniture back:
Although, as the company liquidated and all of its stores are closed in the United States of America there are some ways the customers of Art Van can get their warranties back.
- Using Synchrony Bank, Card Member Agreement
- Warranties are offered by Gardner White.
- Using Synchrony Bank, Card Member Agreement:
It is one of the possible ways customers can get the warranty back if he pays the Art Van through his Synchrony credit card and he hasn’t paid through it fully. Card Member Agreement state that you have to provide the bank “Notice of Dissatisfaction of Goods Purchased” which state that you are entitled to a refund if you have not fully paid for the item purchased. The customer deliberately needs to follow the following steps:
- Write a letter to Synchrony Bank, return receipt requested.
- Mail it to the Bank.
- Add a copy of the invoice showing the purchase of the extended warranty, including a photocopy of the most recent statement.
- Write a statement in the letter such as “I’m not satisfied with the item, not up to the mark of Art Van.
- Warranties are offered by Gardner White:
The member of the Metro Detroit community, Gardner white offered to the warranty holders of the Art Van who suffered from the liquidation of the company. Garden white also sells furniture which according to them fits into everyone’s lifestyle. Some detailed information is:
- They are offering to those customers who bought the warranty in the past 2 years.
- They offer the same coverage policy as they offer to their warranty holders.
- To be eligible for this offer customers just have to show that they had bought furniture within the past 2 years.
Conclusion:
As Art Van went into crisis and had to stop the business due to this many warranty holders get upset as they didn’t get what they want and there is no other way of getting their money back. Some customers of Art Van may not ever see the furniture they ordered.
Frequently Asked Questions:
- Is Art Van closing all of its stores?
Yes, Art Van closed all of its stores, due to bankruptcy. It was one of the largest furniture retailers, but due to mismanagement and some other reason, the great power came to an end.
- What year did Art Van come to an end?
Art Van came to end in March 2020. All of its stores closed and nearly 3000 workers became jobless.
