Tom Sullivan, founder and former CEO of Lumber Liquidators (Toano, Va.), purchased luxury home retailer Gracious Home for $4 million, according to the Commercial Observer.
Gracious Home had entered Chapter 11 bankruptcy for the second time in a six-year period in late 2016. The company’s CEO, Rob Morrison, was working with Sullivan at Lumber Liquidators when the company went public in 2007.
“That’s why he’s here,” Morrison told the Observer.
Gracious Home had four Manhattan stores, which are now closed. It opened a new store in Manhattan in May and the company relaunched its website.
Gracious Home is one of a handful of new ventures for Sullivan, who resigned from Lumber Liquidators in January. He purchased a winery in the Bordeaux region of France, and the wine is for sale in Florida and New York. He also formed two new flooring companies, Surplus Flooring Warehouse and Robusto Floors, earlier this year.
