After filing bankruptcy last month with more than $60 million in debt, furniture retailer Robb & Stucky will announce its plans to liquidate by the week's end.
The liquidator Hudson Capital agreed to pay $30 million for the company, which amounts to 75% of the value of its inventory. It is projected that $13 million owed to Robb & Stucky customers and vendors will not be repaid.
Liquidation sales begin immediately in its dozen stores, and the 30 facilities and 1300 employees will close doors by the end of summer, according to a report.
Founded in 1915 in Fort Myers, Fla. as a one-store general merchandise emporium, Robb & Stucky operates facilities in Florida, Texas, Arizona, North Carolina, and Nevada.
News categoriesAll News >
Designer awarded ASID’s top honor
ADAC fest to return with a focus on fashion, film and philanthropy
Yabu Pushelberg and Cambria team up on a trophy
Tour Traditional Home's Hampton Designer ShowhouseShowhouses | 5:28Tour Traditional Home's Hampton...
Tour 8 designer vignettes at the White PartyTrade Shows | 5:45Tour 8 designer vignettes at the...
- The Scene
- Tag Sale
- In Print