Daily News Archive
Brought to you by Home Furnishings Business
November 11,
2007 by in UnCategorized 
By Home Furnishings Business in on November 2007
Sid Roberts has joined Tietex Interiors as business development manager for the company’s new line of fabrics created for motion upholstery.
In the new position, Roberts will oversee product development and sales for the line.
“This move is a natural outgrowth of our decision to align sales and marketing responsibilities along market segments, and Sid is the ideal person to manage this specific segment,” said Mike Durham, president of Tietex. “We have had success in the motion category both here and in Asia, but Sid’s contribution and market knowledge, coupled with our commitment to motion, should position us as a major player in both geographical markets.”
With more than 25 years experience in the motion segment, Roberts will have sole responsibility for business development, including strategic planning, primary sales, marketing and merchandising support.
November 11,
2007 by in UnCategorized
By Home Furnishings Business in Casual Furniture on November 2007
Casual furniture specialist the Veneman Group is moving into a larger headquarters in Garden Grove, Calif.
The new, 50,000-square-foot facility will house marketing operations and support functions. The company’s manufacturing will remain at its existing location.
“This is another positive step for Veneman,” said Bill Markowitz, president. “Over the last few years the team has grown rapidly in line with our company strategy, and we needed to expand the facilities, which will be the central hub for over 50 employees. Our new office will manage and support our growing woven line, and reinforce our mission ‘the best and most desirable are hand-crafted.’”
Markowitz is optimistic about the company’s future.
“On the back of winning some major customers this year, the sales forecast looks extremely promising, with growth expected to increase by over 50 percent over the previous year,” he said. “With the expansion of our business, we will continue to deliver complete custom applications that set us apart from our competitors.”
November 11,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on November 2007
As the Bombay Company, Fort Worth, Texas, liquidates its inventory during the holiday season, DJM Realty, Melville, N.Y., expects to auction leases for 335 retail store locations and five distribution centers in mid-December.
The retailer filed for Chapter 11 bankruptcy in September. Last month, the company announced that a joint venture of Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC submitted the winning bid at the auction for Bombay’s business operations, under a plan that would liquidate Bombay’s U.S. retail operations while continuing Canadian operations after selling off inventory.
Monday’s announcement said the hiring of DJM to sell leases is subject to bankruptcy court approval next week. “There are very few opportunities to offer a real estate portfolio as unique as Bombay’s, which consists of locations in elite malls, street-front properties and strong strip, outlet and lifestyle centers,” said Andy Graiser, co-president of DJM Realty.
The stores, which are spread across 41 states, range from 1,800 square feet to 11,000 square feet. The distribution centers in Pennsylvania, Georgia, Texas, Indiana and California range in size from 250,000 square feet to 400,000 square feet.
November 8,
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on November 2007
Levitz Furniture has filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of New York.
The retailer has 76 stores in the Northeast and West.
In a release, the company said the filing was necessary because of “insufficient liquidity to support the company’s current operations.” The company also said the filing is part of its strategy to evaluate its options, including a sale or finding a new financial investor.
The release said Levitz has received its lenders’ consent to use funds to continue operating. In addition, the retailer is seeking court approval to “support” employees, vendors, customers and other stakeholders by fulfilling existing orders, honoring customer deposits and maintaining payroll and employee benefits.
“We are hopeful this filing will enable the business to emerge stronger and better positioned for long-term success,” said Larry Zigerelli, chairman and CEO of Levitz Furniture. “We have an exceptional group of people at Levitz who have made great strides to improve our business during a challenging period for our entire industry.”
According to court documents, the company lists assets of more than $100 million and liabilities of more than $100 million. Its estimated number of creditors is listed as being between 1,000 and 5,000.
The top 20 unsecured creditors are listed as: Legacy Classic Furniture, $3,374,850.03; Collezione Europa, $2,947,725.82; Klaussner Furniture, $2,724,516.70; Prime Resources/Harbor Homes, $2,487,000.86; Haining Mengnu Group, $2,311,666.48; Tongxiang Shouwang Leather, $2,300,164.79; Samuel Lawrence Furniture, $1,860,653.81; Sealy Mattress, $1,457,240.74; Pro Line Printing, $1,050,678.29; DeCoro, $970,000; Riversedge Furniture, $882,752.22; Magnussen Home Furnishings, $776,516.01; Home Delivery Link, $763,013.66; Yue Sen, $731,157.64; Haining Nice Harvest Furniture, $719,082.40; Serta Mattress, $717,270.27; Steve Silver, $669,206.74; and Chaki Co. Ltd., $456,854.14.
This is the third time Levitz has filed bankruptcy in 10 years. The retailer filed in September 1997 and then again in October 2005.
November 8,
2007 by in UnCategorized
By Home Furnishings Business in Case Goods on November 2007
Kay Canada has been named vice president of sales for Magnussen Home Furnishings’ Western U.S., Mexico and International regions.
She reports to Don Essenberg, executive vice president and chief marketing officer.
In her new position, Canada is responsible for increasing sales revenues and for recruiting, managing and training the sales team in her territory.
“Kay’s firm grounding in sales management combined with her strong retail perspective and proven ability to increase market share will be a huge asset to us,” Essenberg says. “Kay understands that today any sales effort needs to be focused on the consumer. Her experience includes retail gallery management, field manufacturer representative sales and sales management. She knows that partnering with the retailer to sell the consumer is the future of our business.”
Prior to joining Magnussen Home, Canada was the vice president of sales for the United States and Canada for Durham Furniture, where she was responsible for leading a team of 32 independent sales representatives to achieve the company’s sales goals, prospecting new accounts, determining sales quotas for territories and for annual territory evaluations. She also was responsible for developing sales training materials, managing the Durham sales training program for retail sales associates, and overseeing the company’s customer service and corporate trainers.
Prior to that, Canada was the corporate gallery manager for Mathis Brothers Furniture where she ran the company’s high-end business for the Oklahoma City, Tulsa and Indio stores. Other experience includes working in sales positions for Bernhardt Furniture, Lexington Home Brands, and Pennsylvania House.
“We are pleased to welcome Kay to the Magnussen Home family as we continue to build and strengthen our senior management team,” said Richard Magnussen, chief executive officer and president. “She will add significant value to our dealer relationships and we look forward to her contributions in helping to build our Western U.S., Mexican and International territories.”