Local Ashley Furniture Gets Bankruptcy Protection
The owner of the Bakersfield branch of Ashley Furniture Homestore received Chapter 11 bankruptcy protection this month. “If somebody orders something at Ashley, they will get that product,” he said. “We have gotten bankruptcy court orders to make sure that happens.”
The downturn in the retail market and the tightening of the credit market prompted the [...]
Az furniture sales plummet more than U.S. average
Arizona furniture sales and employment figures, dragged down by the housing industry, suffered a worse decline than the national average. The cost to bring products to the retailer and expenses for delivering furniture to consumers has risen. And many retailers absorb the extra costs, further lowering their profit margins, he said.
Tough economic times mean cutbacks, [...]
Wal-Mart and Penney roll out casual furniture
The catalog notes that items delivered to Wal-Mart stores have free shipping.
The Wal-Mart name scarcely appears, by design. The company says it’s trying to create a brand identity for Canopy, a line of ready-to-assemble furniture, bedding, rugs, lighting, dinnerware and table linens.
Penney created Linden Street because it noticed customers were gravitating to its simpler furniture, [...]
Fast becoming a part of the furniture
Oliver Moloney has just opened his latest Instore furniture shop, but he already has plans for two more.
Instore’s roots reach back more than 20 years, when Moloney and his brother first traded furniture from their family home in Ardnacrusha, Co Limerick. They opened their first store on Patrick Street in Limerick in 1988.
That store no [...]
ScS share plunge underlines chilling downturn in furniture sales
Shares in ScS Upholstery, the furniture retailer, plunged almost 40pc today after the store group said that an unnamed credit insurer had stopped offering cover to a number of suppliers who sell sofas to the retailer.
The announcement, which relates to a technical aspect of the supply chain, is chilling evidence of the steep downturn in [...]