Update on Harman Stove company sale to HNI - or lack thereof

  • Active since 1995, Hearth.com is THE place on the internet for free information and advice about wood stoves, pellet stoves and other energy saving equipment.

    We strive to provide opinions, articles, discussions and history related to Hearth Products and in a more general sense, energy issues.

    We promote the EFFICIENT, RESPONSIBLE, CLEAN and SAFE use of all fuels, whether renewable or fossil.
  • Hope everyone has a wonderful and warm Thanksgiving!
  • Super Cedar firestarters 30% discount Use code Hearth2024 Click here
Status
Not open for further replies.
webbie

webbie

Seasoned Moderator
Hearth Supporter
Nov 17, 2005
12,165
Western Mass.
Not any hard news to report, but negotiations are continuing. According to sources, the buyer (HHT, HNI) was adding insult to injury by demanding more concessions.....which may have been warranted (or not) depending the state of Harmans books and accounts. Anyhow, this almost ended the negotiations, but apparently they are now on again and things are looking better.

I know it's not much, but it is the best I can do. These meetings are definitely behind closed doors!

If the deal was to fall through, it would be tough to speculate the options for Harman. Could they pay off debt (eventually) and re-org? Could they file chapter 11? Could they somehow pick up some outside $$? Who knows, but I think it is of importance to the Pellet industry and to customers as to the current and final status of this relatively sad story.
 
typo needs correction -
"apparently they are not on again and things are looking better."
 
Thanks for the update......

I know I have my fingers crossed. It would be nice if they started making some stoves near me like the Quad units!
 
It is my hope that harman and its stove line survives this tough time.
 
Me also, we could use some more variety in out show room and I really like Harman's designs. The pellet units has a totally different style that Quad doesn't even get into. Everyone in the HHT family was excited to hear about it so I hope it doesn't fall through.
 
Status
Not open for further replies.
Top Bottom