Value City Furniture Faces Closures: What You Need to Know
Value City Furniture, a familiar name in home furnishings for decades, is navigating a challenging period. The company’s parent, American Signature inc., recently filed for Chapter 11 bankruptcy, leading to the planned closure of over 30 stores across the United States. This impacts shoppers and employees alike, and understanding the situation is key.
Understanding the Bankruptcy Filing
American Signature Inc. initiated the court-supervised bankruptcy process last month, as announced on November 23rd.The company is hoping a competitive auction will maximize value during this restructuring. Rudy Morando, co-chief restructuring officer, explained that ongoing economic challenges within the home furnishing industry prompted this difficult decision.
The company is committed to serving its team members, customers, and partners throughout this process. Select Value City and American Signature Furniture locations will remain open, offering significant discounts.
Store Closures and Sales
Sadly, not all stores will stay open. Some locations have already begun “Store Closing” sales, offering discounts on everything from living room sets to rugs. Currently, 33 stores are slated for closure nationwide, with a significant concentration in the Midwest.
If you’re a Value City shopper, you may find substantial savings at closing locations. however, it’s important to act quickly as inventory dwindles.
Midwest Store Closures – Is Your Local Store Affected?
here’s a breakdown of the Value City Furniture stores confirmed to be closing in the Midwest:
Illinois:
* 6116 Grand Avenue, gurnee
Indiana:
* 945 East Lewis and Clarke, Clarksville
Michigan:
* 5865 Grape Road, Lansing
* 8748 West Saginaw highway, Mishawaka
* 550 Ring Road, Portage
* 425 East Eisenhower Parkway, Ann Arbor
* 33801 Southbound Gratiot Avenue, Clinton Township
* 5701 Mercury Drive, Dearborn
* 50400 Gratiot Avenue, New Baltimore
* 27775 Novie Road, Novi
Missouri:
* 7077 Chippewa Street, St. Louis
The exact closing dates for these stores haven’t been announced yet. You should check with your local store for the most up-to-date data.
What Does This Mean for You?
If you have recent purchases or warranties, you should contact Value City directly for clarification on how the bankruptcy will affect your coverage. Keep your receipts and any related documentation readily available.
For those considering a purchase, the current sales offer potential savings, but understand that returns and service might potentially be impacted. Carefully evaluate your needs and the terms of any sale before making a commitment.
Looking Ahead
The future of Value City Furniture remains uncertain. The bankruptcy process aims to restructure the company and perhaps emerge stronger. Though, the closures represent a significant shift in the retail landscape. We will continue to monitor the situation and provide updates as they become available.
