Good Lifestyle

For a lot of home improvement and home item stores, 2020 saw business boom with all nesting Americans. In fact, Statista reports 79%Growth in retail sales of home furnishings from April to May of 2020 and 37% additional from May to June. But while shops likeHome Depot and Lowe's I also saw sound sales, a furniture retailer was not so lucky.Love the furniture recently tabled in Chapter 11 Protection against BankruptcyBy making the last retailer undergo the effects of Covid-19, locking and striking related to the economy. Read more about surviving furniture, and for another similar string by closing multiple stores, checkThis beloved house property chain closes more than 40 stores.

Love the furniture - with its "Love where you live" mission statement -Assis a newly created company that has taken up numerous places on the left when Art Van Furniture went bankrupt in March 2020. from 34 stores in Michigan, Ohio And Pennsylvania, loves furniture should tackle a single Michigan store afterchair 11, which they filed on January 6th.

The CEO of the companyMack Peters say itDetroit Free Press that the last year has seenDISTRIBUTIONS OF SUPPLY CHAINS caused by the Pandemic of Covid. "There were certainly many factors involved in what happened," said Peters. "We had to delay a lot of store openings because we did not have goods." The details of the bankruptcy of bankruptcy also explain how the company could not access the old Van Warehouse art than in October because it was still used for van liquidation art sales.

Loves Furniture attached Penske Logistics Services to handle storage issues, with apparently spiral costs, because the brand was on the hook to pay several deliveries in the bad stores, half-full delivery trucks and lost inventory. The two companies eventually continued in a case in progress.

With the logistics and problems of persistent supply, loves the first furniture announcement at the end of December that they would closed a dozen Michigan stores led to a wave of orders canceled by customers who were no longer confident that they would receive their items delayed. The uncertainty "customers" as to whether loves would remain in existence have led to many cancellations to the point where daily cancellations have often exceeded daily sales, "said Peters in the deposits of the Court.

Loves Furniture currently holds about $ 27 million in unsold inventory. The 13 of its main remaining stores plan to preserve large sales to free cash flow and allow the reorganization of the company to continue so that furniture can exchange, smaller but healthier.

Continue reading for other well-loved stores in difficulty and for more information on the latest retail news, checkThis iconic department store closes 40 other locations.

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Start the year on a dark note,Family video, one of the last relics of the film rental scene, announced on January 5thAll its stores will closing. The new came just three months after almost almostHalf of the 510 family video locations The company had at the beginning of 2020 were closed. "Although we have confronted Netflix's digital competition and other years, nothing has been tooDevastating to our company like Covid-19, "Keith HooglandThe CEO of the parent company of Family Video Highland Ventures, said in a declaration. The remaining 250 family thieves are defined to close after their current liquidation sales. And for regular news of regular retail sent directly to your inbox,Sign up for our daily newsletter.

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Clothing and accessories Once ubiquitous Store Francesca's has announced the first ad that it was classified forChapter 11 Protection against bankruptcyIn December, and soon the company revealed that it closed 97 stores across the country. The news followed an announcement of November that140 locations would obtain, which means more than a third of Francesca's 700 locations go out. And for another brand making big changes, checkThis iconic clothing chain closes its main stores.

End of December, the "eater" chainSocial bowl punch, which had 20 sites at the national level, announced that the bankruptcy deposit of Chapter 11. "In a tale now too familiar, accounts receivable companies were immediately and significantlynegatively affected by COVID-19"Depending on the business of online restaurants," unfortunately, due to restrictions limiting the number of customers at each location, as well as the malaise of the public from going out or drinking the public during a pandemic, each of these places wasLosing money on a daily basis. "And for another classic restaurant that is in danger, checkThis beloved catering chain just dropped bankrupt.