Planned Furniture Promotions has been successfully liquidating the locations of Roomstore in Houston (five), El Paso (two) and Austin (two) since early this year. PFP has now been chosen by RTG to handle the liquidations in Waco and Temple TX.
Clint Engel — Furniture Today, April 12, 2012
RICHMOND, Va. — …………………………………..
RoomStore has been reorganizing under Chapter 11 bankruptcy protection since its filing in December.
The bankruptcy court here approved a deal Wednesday to sell the retailer’s 10 remaining Texas stores to Seffner, Fla.-based Rooms To Go in a transaction valued at at least $2 million. RoomStore will need to file a separate motion to sell certain related customer information, the court said.
RTG CEO Jeff Seaman told Furniture/Today his company will hire Planned Furniture Promotions to run liquidation sales at the RoomStores in Temple and Waco, Texas, while RTG will handle closing sales for the remaining eight stores in the greater Dallas area. He said it’s too early to say how many of the stores the retailer will eventually convert to Room To Go.
The move will leave RoomStore with 28 stores in Maryland, North Carolina, South Carolina and Virginia.