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Lee Silberman, former CEO Robert Allen Duralee, Says Farewell

May 8, 2019

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Lee Silberman
Lee Silberman

Lee Silberman, the former CEO of RADG (Robert Allen Duralee Group), has sent out a farewell note to industry colleagues, confirming approval of the chapter-11-protection plan and proposed sale of RADG Holding.

Brant Enderle, a Knoxville-based, real-estate developer, and manager of RADG Holdings is the new owner of RADG. Enderle was the only bidder for RADG and reportedly paid $19 million for the company. Read the story by clicking here.

Here is Silberman’s letter sent this week.

“On Monday, May 6, the bankruptcy court confirmed The Robert Allen Duralee Group’s chapter 11 plan and approved the proposed sale to RADG Holding LLC. The transaction closed that morning.

“Consequently, I am writing to let you know that May 2 was my last day with the company.

“After 40 years at this company, leaving is bittersweet. I am proud of the work that I have done and feel very fortunate to have had the opportunity to call Duralee and then Robert Allen Duralee, ‘my company’. During my tenure, much was achieved as we became leaders in the home furnishings industry. I leave with the consolation of knowing that, while the past months, in fact, the past few years, have been challenging, forging ahead was worth it as over 300 jobs have been saved.

“For me, I look forward to having the time to pursue other interests that I have put on the back burner for the last 40 years.

“I wish the new Company, its management, and its wonderful employees great success as they bring The Robert Allen Duralee Group into a new era.

“Sincerely, Lee Silberman”

Read about RADG, the second largest American supplier of decorative fabrics and furniture, filing for Chapter 11 protection by clicking here

Read about RADG owing $12.6 million to its top 30 creditors by clicking here.
 


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