Murphy Bed, a furniture maker based in North Carolina, is selling a collection of hardware to pay back its debt to its lenders.
The company announced Tuesday that it would sell the hardware collection of about 2,000 pieces to creditors for $15,000 apiece, plus $3,500 in attorney fees.
The company said it has an agreement in place with its creditors to pay them back, but it plans to use the money to buy back its inventory.
Murphy Bed CEO John Murphy said the company will also sell its antiques to pay down its debt.
The hardware collection was bought in 2010 and 2011.
Murphy bed is part of Murphy Bed Group, a privately held company that includes furniture maker Murphy Bed.
It has been struggling with debt since the company was spun off from the parent company in 2006.
The debt was incurred during Murphy Bed’s acquisition of a second-hand home, which it bought for $5,500 from a woman who wanted to sell it.
Murphy and the woman agreed to a lease for the property and agreed to settle the debt by selling the house.
The home was sold in 2014 for $9.5 million and Murphy Bed paid $4.5,000 in closing costs, according to the company.
Murphy Bed has also been battling with other creditors.
In March, the company had to pay $7,000 to the federal government for failing to pay the balance of a $5 million loan it had taken out for construction work.
Murphy has also had problems with other debt holders, including the city of Asheville and the Asheville County Courthouse.
Murmur Bed also said that it plans on selling the collection of furniture from its new home.
The collection includes several pieces, such as a table, desk and chair.
The furniture is priced at about $15 each, and the company said the inventory is on sale at a discount.