Levitz, Seaman to Combine Some Operations

Levitz Furniture Inc., a retailer operating under bankruptcy protection, agreed to share management and some business functions with rival Seaman Furniture Co. as part of a plan to return to profitability. Levitz and most of Seaman will be owned by a new holding company, Levitz Home Furnishing Inc. Closely held Seaman will manage Levitz’s U.S. East Coast stores and provide administrative support for other locations. Marketing, product selection and inventory for Seaman’s 51 stores and some Levitz stores will be combined to cut costs, the companies said. The retailers, which together have 115 stores, said they expect to continue operating as separate companies in other respects. The agreement is subject to Bankruptcy Court approval, which Levitz said it expects to receive around the end of August. Levitz said it will continue to manage its non-East Coast stores from Pleasanton, Calif. The company’s offices in Boca Raton, Fla., and Pottstown, Pa., will be closed, with some jobs moved to Seaman’s headquarters in Woodbury, N.Y. There are no planned cuts in store or field personnel.