As of 2015, there are no existing RoomStore locations due to the company’s bankruptcy. RoomStore had more than 50 locations for customers to go to buy furniture during its tenure. The furniture company opened its doors in 1992 but closed all remaining stores in 2012.Continue Reading
RoomStore first went into bankruptcy in 2000 but emerged from the bankruptcy in 2005. In 2011, the company filed for bankruptcy for the second time. In 2012, a U.S. court judge changed the company's bankruptcy Chapter 11 filing to a Chapter 7 filing. This action forced the company to liquidate all its assets.
The liquidation took place in August of 2012 and ended in November of that same year. The goal of the company’s liquidation was to pay off its creditors. The company had to sell 65 percent of its shares in the bedding retail chain Mattress Discounters. After all RoomStore shops had closed, only the stores in Arizona stayed open, since another company with a similar name owned the Arizona stores but was not a part of the responsible parties in the court order to pay RoomStore’s credits.
During its time of operations, RoomStore received a top-25 rating in the furniture business. The company was known for selling its products as a bundle rather than as separate items as other furniture retailers do.Learn more about Corporations