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Lacks Files for Bankruptcy

By: Dylan Brooks
Updated: November 15, 2010
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MIDLAND -- A home furniture chain with locations in the Permian Basin has filed for bankruptcy protection.
    Lacks Home Furnishings has announced that they are filing for chapter 11. Over the years, the company has provided financing for buyers. Now, the company's lenders want them to repay the loans, and the business can't handle all those payments.
    All Lacks locations are expected to close in the next 2.5 months. Lacks has locations in Midland, Odessa, Lubbock, and Abilene.

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