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Levitz Furniture store during liquidation sale, December 2007. Levitz was accused of having been poorly run for more than a decade starting in the 1990s. It declared Chapter 11 bankruptcy twice during the period, in 1997 and again in 2005, both times emerging after a corporate restructuring and the participation of new outside backers. [3]
Levitz, one of the oldest furniture stores in the country, announced in December that it would close all of its 76 stores.It's sad to see longstanding businesses shut down after so many years.
Merry-Go-Round – Merry-Go-Round had more than 500 locations during its heyday in the 1980s. It went bankrupt in 1995. [65] Mervyn's – a California-based regional department store founded in 1949. Mervyn's ill-fated expansion out of West Coast markets in the months before a recession sent the company into bankruptcy in 2008. [66] [67]
The Room Store (commonly stylized as RoomStore) was a chain of furniture retail stores in the eastern and southern United States, which operated from 1992 to 2012. The company, which was owned by RoomStore, Inc., specialized in retailing all the pieces of furniture for an entire room rather than individual pieces of furniture.
A closeout or clearance sale (also called a closing down sale in the United Kingdom [1]) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale ), over-ordering, or especially because of bankruptcy . [ 2 ]
A purchase and sale agreement (PSA), also called a sales and purchase agreement (SPA) [1] or an agreement for purchase and sale (APS), [2] is an agreement between a buyer and a seller of real estate property, company stock, or other assets.
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Wickes Furniture was a privately held chain of furniture stores based in Wheeling, Illinois. [1] The company was founded in 1971 with a showroom in Fridley, Minnesota, and at its peak, operated 43 stores in California, Illinois, Indiana, Michigan, Minnesota, Nevada, Texas and Oregon.
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