Ashley Furniture Industries could be sold for more than $3 billion, the Wall Street Journal reported Tuesday. The family-owned company, which operates a Chattanooga store on Gunbarrel Road, is reportedly exploring a sale.
The Journal quoted sources saying that a number of private equity firms are weighing a buyout of the Arcadia, Wisc.-based company.
Founded in 1945, Ashley Furniture is the largest manufacturer of furniture in the world and operates more than 560 stores. The company employs more than 13,000 workers and generated more than $4 billion in sales last year.