St. Louis DeBasio to Liquidate

August 27, 2006  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on August 2006 DeBasio Furniture, a 78-year-old furniture retailer with two stores serving greater St. Louis, has announced plans to go out of business.

A liquidation sale will start Thursday at DeBasio’s stores in St. Louis and Ellisville, and will continue until all merchandise is sold. Planned Promotion specialist Deere Park Associates is working with the retailer on the sale.

The decision to close DeBasio Furniture was based on trends in the furniture industry as well as the economy, said President Mike Noblot.

“In recent years it has become harder and harder for independent, family owned furniture retailers to compete with the national and international mass merchandisers,” he said. “At the same time, foreign manufacturers have greatly changed the nature of service and quality. Rather than having to compromise on quality, value, or service, we felt the time was right to make a graceful exit.”

Chairman John DeBasio Jr., son of the company founder, said the GOB sale will total around three acres of merchandise, with prices reduced up to 75 percent.

“It has been a wonderful 78 years, and the decision to close a family owned business is always a very difficult one,” DeBasio said. We love being a part of the community, and have been blessed to have great, loyal customers. ... If we have to close, we want to do it with a meaningful event, saying good-bye and thanks to our long-time customers.”

John DeBasio Sr., noting the boom in single family homes, opened the first DeBasio Furniture store in 1928. In 1987 a second DeBasio furniture store was opened on Clayton Road in Ellisville to serve the expansion into the West County area.