Chromcraft to Acquire Wambold Furniture

An Indiana company has signed a letter of intent to acquire Wambold Furniture, a Simi Valley producer of dining room and bedroom furniture that has been operating under Chapter 11 bankruptcy court protection since last year.

Chromcraft Revington Inc. of Delphi will pay about $5 million for the Simi Valley firm, a Chromcraft official says. However, the deal is subject to approval by the U. S. Bankruptcy Court in Santa Barbara, where Wambold filed its Chapter 11 petition.

Chromcraft, which produces casual dining, occasional and commercial furniture, plans to make the Wambold facility its first West Coast plant. Chromcraft, whose stock is listed on Nasdaq, had sales of $126 million last year.