Brunschwig & Fils Announces Restructuring

NEW YORK CITY — January 18, 2011 — Olivier Peardon, President and Chief Executive Officer of
Brunschwig & Fils, announced that the family-owned company has filed for Chapter 11
restructuring and, concurrently, that Kravet, a fourth generation family company, one of the
largest privately held distributors of fabrics and home furnishings with locations worldwide, has
agreed to buy Brunschwig & Fils subject to a competitive bid process.

Kravet has agreed to provide financing to ensure that Brunschwig & Fils can continue as a
financially sound trading partner during this time of reorganization.

Mr. Peardon stated, “The restructuring is a business decision that will not affect the
quality of our products, or present and future orders. This restructuring will improve our services
and supply chain flow. Our relationships with the lines we represent remain intact and the
Brunschwig & Fils Design Studio is creating new patterns for future release.”

Brunschwig & Fils is an internationally respected brand that, for the past 110 years, has
been the preeminent destination for luxury fabrics, wall coverings, trims, lighting, furniture and

Kravet, throughout its 93 years in business, has firmly established itself as a distributor
of high-end brands such as Lee Jofa and GP&J Baker. 

Posted on February 8, 2011

Source: Brunschwig & Fils