Bush cleans house

Bush cleans house: Auction items include presidential memories from 41 and 43

If furniture could talk, a lot of family memories — and maybe a few presidential secrets — would come forward in an ongoing auction taking place in Houston.

Sharon Bush, the former wife of Neil Bush, is cleaning house by auctioning off several pieces of furniture that have been in the Bush family for generations.

"If this table could talk, it would tell you some fascinating stories."

Through BoldBids.com, the ex-wife has listed such presidential-worthy pieces as a white Chippendale sofa and an antique Drexel mahogany sideboard buffet, items from the Bush family compound in Kennebunkport, Maine. The couch was a gift from George H.W. Bush and Barbara Bush.

"This sofa has seen many family holidays and gatherings," Sharon is quoted in the description section for the Chippendale sofa. "I can't even give you an accurate number as to how many times 41 and 43 (George W. Bush) relaxed and stretched out across it or shared a funny story with the family. Or, perhaps, even a hot political debate."

Sharon and Neil Bush, the son of Barbara and George H.W. Bush, divorced in 2003 after 23 years of marriage. Sharon Bush, who now lives in New York, said she put the items up for auction because she is downsizing.

The description of an antique oak Renaissance Revival English table with four leaves says, "This table has had two U.S. presidents, Bush 41 and 43, dine at it. If this table could talk, it would tell you some fascinating stories."

A Baker Furniture dining room table up for auction comes with this note from Sharon: "I recall 41 sitting around our dining table discussing the Points of Light Foundation, hearing the rough draft of the inaugural address and how we were going to contribute as a family to reach out to people in the U.S. through volunteering."

More auction items include an antique federal-style inlaid mahogany breakfront used by the former couple in their Houston home; a oval oak dining table where their children, Lauren Bush Lauren, Pierce Bush and Ashley Bush, gathered to complete homework; and dining room chair sets.

Prices range from minimum bids of $42 for the oval oak table to $320 for the sideboard buffet. New owners receive a provenance letter from Sharon Bush for their purchases.

The auction ends July 17 at the Bold Bids warehouse, 6907 Atwell Drive.

Sharon Bush, right, and daughter Lauren in file photo.

Photo by Priscilla Dickson

Sharon Bush, right, and daughter Lauren in file photo.

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Plastic Container News

Texas-based The Container Store latest retailer to file for bankruptcy

Container Store

The Container Store plans to remain open.

Another seemingly popular retailer has filed for bankruptcy: According to a release, the Container Store has filed for protection under Chapter 11 of the U.S. Bankruptcy Code, effective December 22.

The company is not closing down, says president and CEO Satish Malhotra in a statement.

“The Container Store is here to stay," Malhotra says. "Our strategy is sound, and we believe the steps we are taking today will allow us to continue to advance our business, deepen customer relationships, expand our reach, and strengthen our capabilities."

The Company has filed a motion with the Bankruptcy Court that will allow it to make timely payments to vendors, suppliers, and other trade creditors in full.

The stores and website will continue to operate as normal; all customer deposits and orders will be honored and delivered as normal.

At least 90 percent of the company’s loan lenders have pledged their support. A recapitalization will provide millions in new financing as well as debt service relief. This will strengthen their balance sheet and liquidity position, so they can meet commitments to partners and vendors.

Founded in 1978 and headquartered in Coppell, the Container Store offers organizing solutions and in-home services, with more than 10,000 products to complete any space, sold at more than 100 locations nationwide and a flagship online store.

When they first debuted, they were an utter revelation with all of their various plastic containers and tubs — a market that is now also filled by cheaper knockoffs sold at a much lower price at places like Target.

“We are particularly excited about the future of our custom space offerings, which continue to demonstrate strength," Malhotra says. "We intend to maintain our strong workforce and remain committed to delivering an exceptional experience for our customers while we execute this recapitalization and for many years to come.”

The Chapter 11 process does not include the Company’s Elfa business in Sweden, which continues to operate as usual.

There is starting to be a wave of bankruptcy filings of retailers that include Big Lots, which is holding going-out-of-business sales in anticipation of a company-wide closure; and Party City, which is closing its stores at the end of February.

The Container Store has created a dedicated website for stakeholders to get information about the Chapter 11 case at www.futureforcontainerstore.com.

holidays the container store business