Royal Custom Designs, a Chino-based manufacturer of high-end furniture, is on the brink of bankruptcy and potential job losses. The company is seeking to sell itself to a private equity firm but faces roadblocks from First Internet Bank of Indiana, which is concerned about the deal's financial viability. Royal Custom Designs supplies furniture to several of Trump's hotels, and its president is appealing to the Trump Organization for support in securing the sale and preserving jobs.
Royal Custom Designs supplies luxury furniture to several of Trump’s chain of hotels, including the 263-room hotel in the Old Post Office Building in Washington, D.C. The Chino company sold the furniture to the hotel prior to its sale in 2022 to an investment group that rebranded the hotel as a Waldorf Astoria.
As one of the nation’s largest Small Business Administration lenders, the bank is blocking the sale because it wasn’t satisfied Royal Custom Designs was “commercially reasonable,” Sladick claimed. Miryam Mora Barajas, a spokeswoman with the SBA’s regional office in Los Angeles, said that her agency’s policy is not to comment on individual loans or borrowers.
BANKRUPTCY FURNITURE TRUMP HOTELS ROYAL CUSTOM DESIGNS SBA
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