NEW YORK, New York — After 111 years in operation, Brunschwig & Fils, the preeminent design-house of home furnishings, was sold through an auction process to Kravet, one of the largest privately held distributors of fabrics and luxury home furnishings in the world.  The company filed for Chapter XI bankruptcy protection in January and the auction, which saw a bidding war between Kravet and the real estate firm formed in 2008, Sovereign Partners, was held on March 7 and the sale is expected to be approved in bankruptcy court at the end of the month.

 “The restructuring is a business decision that will not affect the quality of our products, or present and future orders,” said Olivier Peardon, Brunschwig's chief executive. “Our relationships with the lines we represent remain intact and the Brunschwig & Fils Design Studio is creating new patterns for future release.”

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