Furniture Country Galleries Hangs GOB Sign

December 30, 2008  by in UnCategorized   

By Home Furnishings Business in Bankruptcy on December 31, 2008 Furniture Country Galleries, St. Augustine, Fla., announced recently that it has filed for Chapter 11 in United States Bankruptcy Court. A statement posted on the retailer's Web site on Dec. 19 states that its stores have closed to prepare for a major sale.

The Web site statement also said customers awaiting orders will be contacted. A story in The Daily Commercial of Leesburg, Fla., Tuesday states that the retailer has hired Planned Furniture Promotions to handle its going-out-of-business (GOB) sale, pending court approval.

The newspaper stated that a company press release blamed the closing on the weakening economy combined with a severe cash-flow problem. The company was founded in 1979 and had three stores before closing a location in Ocala to focus on stores in St. Augustine and Leesburg.