Discount furniture chain liquidates after Chapter 11 bankruptcy
The retailer had lengthy going-out-of-business sales in some markets.
In the past (and perhaps the present) some shady furniture retailers have used endless going-out-of-business sales as a tactic to create urgency. Customers see that the store is closing and assume they're going to get great deals, but only if they act fast.
In reality, the store might be closing or maybe it's not. Sometimes the doors will close, but a suspiciously similar store will open under the same name right after.
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It's a shady practice that was once fairly common.
One major American furniture retailer filed for Chapter 11 bankruptcy in November, 2024, and made it clear that it planned to close all stores. Those locations started having closeout sales that were quick in some cases, and protracted in others.
Furniture chains going out of business have a harder time than many other retailers. Consumers, for example, might buy an extra sweater or some dishes they don't truly need because the price is right.
