Sunday, October 15, 2006

Storehouse Furniture Closing

There's not much explanation on the website, just an announcement:

Storehouse Furniture, known for its mid-price upscale modern/contemporary furnishings, will be closing all seventy of its locations nationwide in the next few weeks. Discounts now are 15% to 30%, but will likely increase until the $60 million inventory is gone. The closing is part of a bankruptcy liquidation of the chain as its parent, The Rowe Companies, undegoes Chapter 11 reorganization. When efforts to sell the chain failed, the remaining option was liquidiation to generate some cash (news article1, article2). For Dallasites, this means a few good deals at the Inwood Village and Galleria locations before bidding adieu to stores. Good thing that West Elm is waiting in the wings...the Mockingbird Station's grand opening is October 18th.

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