The RoomPlace to Close Eight Stores Amid Chapter 11 Bankruptcy Restructuring
Furniture World News Desk on
The RoomPlace has announced that it will be shutting down eight of its store locations as part of a restructuring strategy following its Chapter 11 bankruptcy filing. The impacted stores are situated in Indiana, Illinois, and Wisconsin. This move is aimed at adjusting the company’s expenses in response to anticipated sales and the current economic conditions.
CEO Bruce Berman of The RoomPlace addressed the financial strategy, stating, "What was once viewed as taboo is now a strategic way to realign and strengthen a business. We’re making the tough decisions now to ensure we’re around for another 100 years."
The closures will affect a total of 83 employees by February 2024. Although specific dates for the store closures have not been disclosed, the company confirmed that its Indianapolis, Kenosha, and Peoria locations remain operational and are still accepting orders. All orders made before the transition to Planned Furniture Promotions (PMP) for the closing sales will be honored.
In Indianapolis, all six The RoomPlace stores are set to close:
- Carmel: 14640 Greyhound Plaza
- Indianapolis: 5651 E. 86th St.
- Indianapolis: 7609 Shelby St.
- Indianapolis: 8401 Michigan Road
- Indianapolis: 8301 E. Washington St.
- Plainfield: 2575 E. Main St., Suite 198
Additionally, The RoomPlace will close its Peoria, Illinois store at Northwoods Mall, as well as its Kenosha, Wisconsin store in Southport Plaza.
Despite these closures, The RoomPlace's restructuring plan will not affect the 18 stores operating in the Chicago area. The company aims to fortify its presence in the Chicagoland market. For a complete list of The RoomPlace store locations, interested individuals can visit their website's store locator page.
About The RoomPlace
The RoomPlace, originating in Chicago in 1912, is a furniture retail chain that offers a variety of home furnishings. Throughout its long-standing history, the company has been dedicated to providing customers with a unique shopping experience, catering to their furniture needs. With the recent restructuring efforts, The RoomPlace strives to align its business model with the evolving market demands to ensure its longevity and continued service to its customers.
For more information, visit TheRoomPlace.com.