The former maker of Broyhill, Lane and Thomasville furniture struck a deal to trim more than $340 million in pension liabilities, Dow Jones Daily Bankruptcy Review reported today. The former Furniture Brands International Inc., which last fall sold its assets to buyout firm KPS Capital Partners LP, on Friday filed papers seeking bankruptcy court approval of a deal that resolves issues with its underfunded pension plan and will allow the company to file a creditor-payment plan. The company, which now goes by FBI Wind Down Inc., sought chapter 11 protection in September to confront the issues surrounding its pension plan, which covers about 19,000 people and is underfunded by more than $270 million.
