Chromcraft Revington Inc. (NYSE: CRC) is in negotiations with management, who may buy the company.
Chromcraft, headquartered in West Lafayette, Ind., manufactures, designs and markets furniture under the Chromcraft, Cochrane, Peters-Revington and CR Kids & Beyond brands. The brands make dining room furniture, including tables, chairs and cabinets, as well as ottomans, bed frames, bookshelves and more that are sold to retailers.
The company has entered into a non-binding letter of intent with RMMJ LLC, a company led by Ronald Butler, Chromcraft’s chairman and chief executive. The deal values Cromcraft at $5 million.
The company announced it was voluntarily delisting from the New York Stock Exchange on April 8. Chromcraft did not file a 10-K with the U.S. Securities and Exchange Commission for the year ended Dec. 31, 2012, but says it will file it before May 31.