SINGAPORE – Leather upholstery vendor HTL has filed for insolvency protection, according to a report from The Straits Times.

The report cited an affidavit in which HTL Chief Operations Officer and Director Robert Chew said the company needs protection due to cash-flow problems from the COVID-19 pandemic. The company owes various banks a total of $46 million, the report said.

According to its website, Singapore-based HTL operates nine plants in Asia and 12 international offices, and has more than 6,000 employees. Its products have a presence in 52 countries.

I’m Powell Slaughter, senior editor at Furniture/Today. I returned to the publication in January 2015 after nine years of writing about furniture retail strategies and best practices at a monthly magazine focusing on home furnishings retail operations. Prior to that, I spent 10 years with F/T covering wood furniture, the last five of those as case goods editor. Upon my return to F/T, I developed coverage of the logistical and service aspects of the furniture industry as well as following the occasional, home office and home entertainment categories. In April 2018 I took over the upholstery category, with responsibility for coverage of the fabric and leather stationary and motion upholstery, recliners and massage chair categories.

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