Rosa’s Home stores


Saturday, November 19th, 2011

Former PFP clients… Rosa’s Bounce Back After Bankruptcy (excerpt from “The Buffalo News”)

Author:

The three sons of the founder of the defunct Rosa’s Home Stores chain have opened stores selling furniture and bedding in two former Rosa’s locations in the Town of Tonawanda and Cheektowaga.
The sons, with the support of their father, opened Home Furniture Gallery outlets late last month on Sheridan Drive and this month on Union Road. The sons all held positions with Rosa’s Home Stores, which left more than 1,000 creditors when it filed for bankruptcy last December, but the Rosas say Home Furniture Gallery is an entirely separate enterprise. “It’s a brand-new business — it’s brand new,” said Paul F. Rosa, the founder of Rosa’s Home Stores who serves as chairman of Home Furniture Gallery.
The new stores promote a 30-day, money-back guarantee and offer customers the transparent choice of different levels of quality at a range of prices.
One main distinction between the old and new stores is Home Furniture Gallery isn’t selling electronics or appliances.
“There’s unprecedented pressure on profit margins for both appliances as well as consumer electronics,” said Burt P. Flickinger III, a Buffalo native and managing director of Strategic Resource Group, the retail consulting firm. Sons Paul M., David and Anthony Rosa say they are confident they can take on the local and national chains in what is a highly competitive furniture and bedding market.
They have opted not to use the Rosa’s name on the company, or in its advertising, but analysts believe their experience and reputation only can help them.
“They have a proven track record as a retailer,” said Michael C. Clark, CB Richard Ellis’ director of retail tenant services. The Home Furniture Gallery stores opened in former Rosa’s locations at 2880 Sheridan Drive, at Eggert Road, and at 3770 Union Road, near the Walden Galleria. David Rosa said the brothers oversaw modest renovations to the two stores, including knocking down some walls, putting on a fresh coat of paint and cleaning the carpets. The brothers all are vice presidents, with David serving as chief financial officer, Paul M. responsible for operations and Anthony overseeing sales.
Once they fill a few remaining open positions, the company will employ 50 workers, including a number who worked for Rosa’s Home Stores.
Friday, December 24th, 2010

Planned Furniture Promotions approved to liquidate Rosa’s Home Stores

Author:

ROSA’S HOME STORE TO LIQUIDATE NEW YORK LOCATIONS

Planned Furniture Promotions Honors Customer Deposits

 Buffalo, NY, December 23, 2010 –-  Rosa’s Home Store, a leading home furnishings appliance and electronics retailer operating four stores in Western New York since 1981, filed for Chapter 11 Bankruptcy protection on December 9, 2010 in the United States Bankruptcy Court for the Western District of New York.  As a result of Tuesday’s bankruptcy hearing, the company will begin Going-Out-Of-Business/Bankruptcy Liquidation sales managed by the foremost furniture event company, Planned Furniture Promotions, Inc.

All customer deposits made prior to the Chapter 11 filing will be honored. “This was the most important aspect of the bankruptcy filing”, said Dean Rallo, president, Rosa Home Store. “Rosa’s didn’t want this bankruptcy to negatively impact our loyal customers, so we worked very closely with our legal team and the bankruptcy court to put our customers first.” Store customers with open orders will receive instructions for completing their orders.   

 “We’re proud to have been chosen by Rosa’s, an institution in the community, to assist the company in this difficult time,” said Tom Liddell, senior vice president of Planned Furniture Promotions. “We look forward to assisting Rosa’s complete the many customer orders that were placed prior to the Bankruptcy filing and conducting a sale that  will benefit the company, its vendors and creditors, and many local customers.”

Rosa’s Home Store operates three locations in Buffalo and one store in Niagara Falls, a region of the country that has been in economic decline for three decades.    The stores will be closed for a short period, to complete an inventory and prepare for the liquidation, followed by the public sale early next year.