Tuesday, June 12, 2012

Room for Rent

The Room Store's days in Columbia may be numbered. The low priced furniture chain filed for a Chapter 11 bankruptcy in December with hopes that they could reemerge as a going concern.

That may no longer be the case. In April the chain exited the Texas market where it got its start by closing ten stores. Now the rest of the stores may be on the chopping block. According to this story by Gregory J. Gilligan in the Richmond Times-Dispatch, the company has asked the bankruptcy judge “to allow the beleaguered chain to sell its assets at an auction.”

“The stores and inventory could be sold in their entirety to a buyer that would continue running some or all of the locations, or piecemeal to a variety of buyers.”

Judging by how quickly the adjacent former Borders store was back-filled, this space is not likely to be dark for very long.
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