Krause’s Furniture Inc.: The Brea owner of...

Krause’s Furniture Inc.: The Brea owner of Krause’s Sofa Factory said Thursday that its board has authorized the repurchase of up to 1.2 million common shares and a 1-for-3 reverse stock split. The company said it has 12.2 million common shares outstanding and also has outstanding 364,780 series A preferred shares, which are convertible to 3.6 million common shares. The reverse stock split, for shareholders of record on Aug. 1, is subject to shareholder approval.