For a lot of people, furniture is an investment, and it can be a little scary to see a business close. The good news is that it’s usually not as final as it seems — a store may be liquidating, but that doesn’t necessarily mean it is going out of business. In fact, many stores have “going out of business” sales that are completely legitimate.
It’s true that the economic climate is challenging for furniture purveyors. Consumers have shifted to online shopping and are more cautious about buying big-ticket items, like sofas or dining tables. That means furniture stores are closing at a steady pace and liquidating their inventory.
Some of the more high-profile closures include Mitchell Gold + Bob Williams, which is shutting down after 34 years and laying off all its employees. The upmarket upholstery manufacturer and retailer informed its workers that they would be let go in a Worker Adjustment and Retraining Notification, or WARN, notice that was sent over the weekend. Calls to multiple retail locations were answered by a recorded message that routed callers to an automated system.
Other stores, including Huffman Koos and Rotmans, are shuttering their doors as well. A Texas-based furniture retailer named Louis Shanks is also letting go of two of its stores, reports the Austin American-Statesman. The retailer is working with Planned Furniture Promotions to handle the liquidation, which is expected to be complete by October.
However, there are some shops that are merely using the going out of business sale as a marketing tool. I know of a carpet dealer that always has a 50% off sale and puts up a sign saying, “In Business Since 1974.” It’s not hard to figure out it’s a scam, but at least some customers are falling for it.