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Bankrupt Furniture Brands Seeks Approval to Pay Out Bonuses

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Furniture Brands International Inc. has asked a bankruptcy judge to allow it to pay more than $5 million in bonuses to 55 employees if it successfully sells its assets at an auction, the St. Louis Business Journal reported yesterday. Furniture Brands announced Sept. 9 that it had filed for Chapter 11 bankruptcy and will sell most of its assets to an investment firm. Furniture Brands, which is led by Chairman and CEO Ralph Scozzafava, listed $547 million in assets and $550 million in debt.