The Room Store
{{more citations needed|date=September 2012}}
{{Infobox company
| name = The Room Store Inc.
| logo =
| image = Room Store.jpg
| image_size = 250px
| image_caption = A (Now Closed) location of the Room Store.
| type = Private
| traded_as =
| fate = Liquidation of assets
| predecessor =
| successor =
| foundation = {{Start date|1992}}
| founder = Gary Levitz (1938–1999)
| defunct = November 26, 2012 (RoomStore, Inc.)
July 11, 2016 (The RoomStores of Phoenix, LLC)
| location = {{unbulleted list
|RoomStore, Inc.:
Austin, Texas, U.S.{{Cite web|date=2012-04-02|title=The RoomStore closing its remaining Texas stores|url=https://www.dallasnews.com/business/2012/04/02/the-roomstore-closing-its-remaining-texas-stores/|access-date=2021-04-07|website=Dallas News|language=en}}
|The RoomStores of Phoenix, LLC:
Phoenix, Arizona, U.S.}}
| locations =
| products = Furniture
| services =
| brands =
| revenue =
| operating_income =
| net_income =
| assets =
| equity =
| owner =
| num_employees =
| parent =
| divisions =
| subsid =
| homepage = {{URL|https://web.archive.org/web/20121014143125/http://www.roomstore1.com/|roomstore.com}}
{{URL|https://web.archive.org/web/20191030092506/http://arizonaroomstore.com/|arizonaroomstore.com}}
| footnotes =
| intl =
}}
The Room Store (commonly stylized as RoomStore) was a chain of furniture retail stores in the eastern and southern United States, which operated from 1992 to 2012. The company, which was owned by RoomStore, Inc., specialized in retailing all the pieces of furniture for an entire room rather than individual pieces of furniture. For example, a table may have been sold with chairs and other dining room accessories in a package rather than a table alone. The Room Store was ranked as one of the top 25 furniture retailers in the United States.{{Citation needed|date=December 2015}} A similar chain with the same name (known as The RoomStores of Phoenix, LLC) operated stores in Arizona from 1993 to 2016.
History
The Room Store was founded in 1992 in Texas by Gary Levitz, grandson of the founder of Levitz Furniture.[http://www.accessmylibrary.com/coms2/summary_0286-5624924_ITM Dallas-Based Retailer Offers Interviews to Levitz Furniture Workers. | Knight Ridder/Tribune Business News (December, 1998)] The chain started with 4 stores in the Dallas-Ft. Worth area. In 1999, Levitz was killed in a plane crash.[http://www.highbeam.com/doc/1G1-55980463.html GARY LEVITZ KILLED IN CRASH AT AIR RACES. (Brief Article) (Obituary) | Article from HFN The Weekly Newspaper for the Home FurnishingNetwork | HighBeam Research]{{dead link|date=February 2019|bot=medic}}{{cbignore|bot=medic}}
The Room Store's then-parent company, Heilig-Meyers, filed for bankruptcy protection in 2000; at the time, there were over 50 locations around the United States.{{Cite web|last=Firm|first=Chris Lee Law|date=2011-12-14|title=The RoomStore Files Chapter 11|url=https://leebankruptcy.com/bankruptcy_blog/chapter-11/the-roomstore-files-chapter-11/|access-date=2021-04-07|website=Lee Bankruptcy}} in 2005, The Room Store, the only part of Heilig-Meyers remaining, received $35 million to emerge from bankruptcy.[http://www.bizjournals.com/washington/stories/2005/06/06/daily11.html Room Store emerges from bankruptcy protection – Washington Business Journal:]
RoomStore, Inc. filed for Chapter 11 bankruptcy on December 12, 2011; in April 2012, it announced it would close all of the RoomStore stores in Texas.{{Cite web|date=2012-04-02|title=The RoomStore closing its remaining Texas stores|url=https://www.dallasnews.com/business/2012/04/02/the-roomstore-closing-its-remaining-texas-stores/|access-date=2021-04-07|website=Dallas News|language=en}}
On June 29, 2012, RoomStore, Inc. announced that it would close all of its RoomStore stores in the eastern and southern United States beginning on August 2, 2012. All of those locations were closed on or before November 26, 2012.
The twelve RoomStore-branded stores in Arizona (which were owned by The RoomStores of Phoenix, LLC) were not initially affected by the bankruptcy. However, on December 18, 2015, that company filed for Chapter 11 bankruptcy.[http://www.bizjournals.com/phoenix/blog/business/2015/12/no-longer-saving-you-more-phoenix-furniture-store.html No longer saving you more: Phoenix furniture store files for bankruptcy - Phoenix Business Journal] Liquidation sales at all twelve stores began in January 2016, and those locations were permanently closed once the sales concluded on July 11, 2016. Continued effects of the 2008 real estate bubble and increased competition among furniture retailers in the Phoenix area were cited as reasons for the bankruptcy.{{cite news|work=Arizona Republic|url= https://appadvice.com/app/chewie-chu/324158862.amp|date=2015-12-21|first=Robert|last=Anglen|title=RoomStores files for bankruptcy; warns of layoffs, closings}}
Private investment company Oak Point Partners acquired the remnant assets, consisting of any known and unknown assets that weren't previously administered, from the RoomStore, Inc. Bankruptcy Estate on August 28, 2017.[https://www.appspy.com/review/3405/chewie-chu Order Approving the Sale of Certain Assets of the Debtor's Estate to Oak Point Partners ], Bankrupt Company News, August 28, 2017
References
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{{DEFAULTSORT:Room Store}}
Category:Defunct retail companies of the United States
Category:Furniture retailers of the United States
Category:Companies that filed for Chapter 11 bankruptcy in 2000
Category:Companies that filed for Chapter 11 bankruptcy in 2011
Category:Companies that filed for Chapter 7 bankruptcy in 2012
Category:Companies that filed for Chapter 11 bankruptcy in 2015
Category:Companies that have filed for Chapter 7 bankruptcy