Furniture supplier World Imports filed for chapter 11 protection on Wednesday, Furniture Today reported on Friday. The company said a number of factors led to the filing, including a large antidumping tariff, an unsuccessful new software system and writedowns of bad debt. World Imports said in court documents that it has an outstanding balance on a line of credit with PNC Bank for about $11.1 million and about $3.6 million in unsecured trade payables. Deliveries will continue and World Imports plans to unveil a 2014 catalog later this month. The company also said it has partnered with a large trucking company to allow for the implementation of a new next-day delivery program to New York, New Jersey and Philadelphia area customers.
