December 26,
2011 by in UnCategorized 
By Home Furnishings Business in Bankruptcy on December 27, 2011
Organic and natural bedding vendor Natura World has filed a Notice of Intention for a proposal with the Superintendent of Bankruptcy in Canada to restructure its business.
The Cambridge, Ontario-based company also reached agreement with its lender, Callidus Capital of Toronto, to provide $7.8 million (Canadian) in new financing.
The company said there will be no disruption of service to its customers, vendors or suppliers, and noted that Natura World's improved cash position should enable it to improve relationships with those stakeholder groups.
Natura World USA, based in Texas, and NexGel are not affected by the filing.
Under the new business plan, Natura World President Ralph Rossdeutscher will maintain his majority ownership stake in the company.
"The decision to file this reorganization plan was made to strengthen our business and to solidify Natura as the leading natural and organic sleep products brand in the world," said Rossdeutscher. "This strong infusion of capital will strengthen our current business and position the company for dynamic future growth."
He said the Notice of Intention was necessary for Natura to shed debt it had amassed three years ago when it made significant investments in new products, equipment and technologies, just prior the recession hitting in the United States, the company's largest market.
"While we have reduced operating expenses significantly over the past two years and our current business run rate is actually profitable, we could not fully right the ship and pay down the debt we amassed several years ago, without going through this reorganization process," Rossdeutscher said.
December 26,
2011 by in UnCategorized
By Home Furnishings Business in on December 27, 2011
Barry Gevertz has joined furniture sales promotion consultant Profit Management Promotions as regional sales manager for the western United States.
He will focus on expanding Doylestown, Pa.-based PMP's services in the region, where the firm has recently seen some new retail interest in its promotional services.
Gevertz, a veteran juvenile furniture retailer who began his career as a certified public accountant, will help retailers quickly analyze their current situation and develop proven strategies to increase sales and profits during challenging economic times.
"Barry's experience and location were the primary factors in bringing Barry on board so that PMP can easily expand into the western U.S.," said PMP Director of Sales & Marketing Ron Cooper. "At PMP, Barry will be working with many types of full line furniture stores along with juvenile retailers--whether large or small--that are considering a high impact sales promotion in order to achieve their ultimate goals, while using the trusted methods PMP has used over the last 28 years."
Profit Management Promotions specializes in conducting high-impact sales for furniture retailers. The firm's projects include traditional going-out-of-business sales, but an increasing number of assignments are focused on retail restructurings, which are specifically designed to keep a retailer in business.
Profit Management Promotions' California office joins regional offices in New York, New Jersey and North Carolina.
December 26,
2011 by in UnCategorized
By Home Furnishings Business in Executive Changes on December 27, 2011
Barry Gevertz has joined furniture sales promotion consultant Profit Management Promotions as regional sales manager for the western United States.
He will focus on expanding Doylestown, Pa.-based PMP's services in the region, where the firm has recently seen some new retail interest in its promotional services.
Gevertz, a veteran juvenile furniture retailer who began his career as a certified public accountant, will help retailers quickly analyze their current situation and develop proven strategies to increase sales and profits during challenging economic times.
"Barry's experience and location were the primary factors in bringing Barry on board so that PMP can easily expand into the western U.S.," said PMP Director of Sales & Marketing Ron Cooper. "At PMP, Barry will be working with many types of full line furniture stores along with juvenile retailers--whether large or small--that are considering a high impact sales promotion in order to achieve their ultimate goals, while using the trusted methods PMP has used over the last 28 years."
Profit Management Promotions specializes in conducting high-impact sales for furniture retailers. The firm's projects include traditional going-out-of-business sales, but an increasing number of assignments are focused on retail restructurings, which are specifically designed to keep a retailer in business.
Profit Management Promotions' California office joins regional offices in New York, New Jersey and North Carolina.
December 26,
2011 by in UnCategorized
By Aggregated Content in Retail Closings on December 27, 2011
from http://c.moreover.com/click/here.pl?z5666031163&z=1250249027
The Chloe Furniture store in Fayetteville, N.C., is one of four locations in the state apparently in the process of closing.
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December 23,
2011 by in UnCategorized
By Aggregated Content in Furniture Retailing on December 24, 2011
from http://c.moreover.com/click/here.pl?z5659464661&z=1250249032
Shanghai-based luxury furniture retailer Da Vinc was fined 1.33 million yuan ($211,777) on Friday for deceiving customers about the origin of its products.
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