Norwalk Furniture Deal Appears To Have Died

IRG Capital Group and Blackbird Capital Partners appear to have backed out of a deal to buy the assets of Norwalk Furniture Group, a Norwalk, Ohio-based maker and retailer of upholstered furniture. The two firms had missed the original August 15 closing date, but later reaffirmed their interest in acquiring the company, following additional due diligence. Now, Norwalk has ceased operations, with the Cleveland Plain Dealer reporting that the private equity firms were unable to secure the necessary financing.