---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-012075"
form_type: "8-K"
ticker: "LBRA"
cik: "0001599407"
company_name: "1847 Holdings LLC"
filed_at: "2024-02-09T23:59:59+00:00"
generated_at: "2026-06-06T04:50:55.594321+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# 1847 Holdings to restate ICU Eyewear financials; impairment overstated by $3.6M

## Summary
- Audit committee determined prior financials for ICU Eyewear (2022, 2021) should no longer be relied upon.
- Impairment of a trademark intangible asset found to be overstated based on a third-party valuation.
- Restatement will increase total assets by $642K and reduce net loss by $3.618M for year ended Dec 31, 2022.
- Company will file an amendment to the Form 8-K/A originally filed April 27, 2023.
- Discussed the matter with ICU's former auditor Frank, Rimerman + Co.

## SEC filing metadata
- accession: 0001213900-24-012075
- form_type: 8-K
- ticker: LBRA
- cik: 0001599407
- company_name: 1847 Holdings LLC
- filed_at: 2024-02-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1599407/000121390024012075/0001213900-24-012075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1599407/000121390024012075/ea193213-8k_1847hold.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-012075
- JSON: https://secwatch.observer/filing/0001213900-24-012075.json
- Plain text: https://secwatch.observer/filing/0001213900-24-012075.txt

## Key facts
- Auditor Changes
  1847 Holdings LLC reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: On February 2, 2024, the Audit Committee of the Board of Directors of 1847 Holdings LLC (the “Company”), after discussions with the Company’s management, determined that the consolidated financial statements for the Company’s subsidiary ICU Eyewear Holdings, Inc. (“ICU”) for the years ended December 31, 2022 and 2021, filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K/A filed on April 27, 2023 should be restated and should no longer be relied upon.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1599407/000121390024012075/0001213900-24-012075-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.