2 Lexington furniture stores holding liquidation sales this week following bankruptcy
All Value City Furniture stores, including the discount retailer’s Lexington locations, are holding going-out-of-business sales with storewide discounts between 25 to 50% while merchandise lasts.
The retailer’s parent company, American Signature Inc., filed for Chapter 11 bankruptcy protection in November. As a result, the company will close all locations.
Lexington has two stores: One located at 2321 Sir Barton Way, Suite 170, and the other at 3220 Nicholasville Road. The retailer also has locations in Florence and Louisville, according to the Value City Furniture store locator. The stores offer living room, dining room and bedroom furniture collections, as well as decor, lighting, mattresses and rugs.
In a Jan. 9 news release, SB360 Capital Partners announced a joint venture with Hilco Global and Gordon Brothers had received bankruptcy court approval to operate going-out-of-business sales “in all 89 remaining American Signature Inc. stores.”
American Signature Inc. owns Value City Furniture and American Signature Furniture. According to the release, there are 79 Value City Furniture stores across 13 states. American Signature’s 10 furniture stores are located in Delaware and Florida.
“We encourage everyone to shop early during this limited-time event while selection is at its best. The compelling liquidation discounts on stylish furniture for every room of the home will make this a short sale in these stores,” SB360 President Aaron Miller stated in the release.
How many Lexington, KY employees are expected to lose their jobs?
The exact number of employees affected by the Lexington store closures is unclear.
Reached by phone Wednesday, a store representative at the retailer’s Sir Barton Way location declined to comment about the number of layoffs at the store, adding staff had been instructed not to answer questions from the media.
The Herald-Leader placed a call and left a message at a bankruptcy information line for American Signature Inc. and did not immediately receive a response Wednesday.
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