CARTERSVILLE, Ga. – Surya has acquired furniture brand Mitchell Gold + Bob Williams (MG+BW), which declared bankruptcy last August after company leaders said PNC Bank denied funding.
The company’s bankruptcy case has recently been converted to Chapter 7, a liquidation under the U.S. Bankruptcy Code.
“We are dedicated to restoring MG+BW to its former glory and beyond, and we look forward to redefining the standards of excellence in the home furnishings industry,” said Surya President Satya Tiwari. “Our acquisition of the MG+BW brand reiterates our ongoing commitment to serve the design community as a complete resource for home furnishings.”
Surya will introduce the brand as a trade-only partner, accessible only to interior designers and retailers.
Tiwari said Surya plans to bring MG+BW back to its roots and “build on its core tenets of craftsmanship, customization and a design-forward approach with MG+BW designs and quality being preserved and celebrated.”
Surya plans to restart manufacturing and assembly operations at the MG+BW facilities in Taylorsville, N.C., which will bring jobs back to the area and show “Surya’s dedication to contributing to the economic growth of the area,” according to Tiwari. Surya expects to start shipping MG+BW products in the first quarter of 2024.
“I am excited that Surya has emerged as the next steward of the MG+BW brand, possessing a profound appreciation for our heritage and a resolute commitment to propel the brand forward,” said Mitchell Gold, co-founder of MG+BW, who will serve as an advisor to Surya’s leadership team. “After navigating through unsettling times, I now see a promising next chapter for the brand we built over 30 years.
“Surya’s deep understanding of the market, alignment with our design philosophy and proven track record to drive future success creates a winning formula. I am enthusiastic about supporting them in any way I can.”
This addition adds to Surya’s growing acquisition of brands including accessories company Global Views and RST Brands, an outdoor furniture company.
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