Manhattan luxury home retailer Gracious Home, which entered chapter 11 at the end of last year for the second time in a six-year period, has found someone to bring it back to life, the Commercial Observer reported on Friday. Tom Sullivan, the founder and former chairman of Lumber Liquidators, a specialty retailer of hardwood flooring, has been approved by the United States Bankruptcy Court of the Southern District of New York to buy the company. The $4 million deal is being finalized as of late-afternoon today, Gracious Home Chief Executive Officer Rob Morrison told Commercial Observer. Sullivan, also the founder of furniture retail store chain Cabinets to Go and clean energy business Proton OnSite, worked with Morrison at Lumber Liquidators, when they built the brand and took it public. “Morrison and Sullivan plan to now deploy a ‘Warby Parker’ strategy — to open a handful of retail stores in very select markets across the U.S., but meaningfully drive sales via the web,” a company spokeswoman sent in an email.
