From Home Furnishing Business
Dufresne Spencer Buys 8 Furniture Stores
St. Louis-based Phillips Furniture and its eight licensed Ashley Furniture HomeStores have been sold to Memphis, Tenn.-based Dufresne Spencer Group.
Phillips Furniture, a family-owned and operated company whose roots in the St. Louis region date back to the 1930s, has been sold to a Memphis, Tenn.-based company.
Phillips has a namesake store in Kirkwood as well as seven licensed Ashley Furniture HomeStores. Those stores will continue to operate as usual.
The deal closed on Wednesday, said Jolene Bergen, a spokeswoman for the new owner, the Dufresne Spencer Group. Terms of the deal were not disclosed.
Phillips Furniture was run by Steve Phillips, his brother, Matthias, and his son, Michael. Bergen said the Phillips are all either retiring or moving onto something else.
Read Entire Story
Source: St. Louis Post-Dispatch