Baton Rouge based Kornmeyer Furniture Company Inc d/b/a Kornmeyers HomeSmartTM , a leading home furnishings retailer, announced today that after 127 years in the retail furniture business it has decided to close its store and will begin conducting a going out of business sale. Over the past sixteen months, the company has been working to overcome a severe liquidity crisis by reducing costs, working with its vendors and negotiating a forbearance agreement with its primary lender, J.P. Morgan Chase. However, despite the company’s best efforts and the help of many vendors and J. P. Morgan Chase, the company could not overcome the loss in sales resulting from a failed software conversion.
Jacques Pourciau, President of Kornmeyers, stated “the prolonged software difficulty, the resulting financial strain along with the inability to replenish our inventory to meet our customer needs, forces us to close our store. We thank all of our loyal customers for their support and patronage and our employees for their years of dedicated service.”
As part of the going out of business sale, the company’s furniture, mattresses and accessories will be discounted form their original retail price, offering consumers tremendous savings on all leading brands, including Lane, Barcalounger, Hooker, Hancock & Moore, Sherrill, Bernhardt, Aico, Sealy, and more. Pourciau said “during our going out of business sale, we look forward to welcoming our customers one last time to purchase furniture at discounted prices.”
For those customers who ordered furniture prior to the commencement of the going out of business sale, Pourciau stated “our company intends to complete all of the customer orders and will, during the going out of business sale, fulfill those orders.” Kornmeyer customers are urged to contact the company if they have any questions regarding their prior orders.
Planned Furniture Promotions, Inc. has been selected by Kornmeyer to manage the going out of business sale. Roy Hester, Vice President of Sales of Planned Furniture Promotions, Inc. stated “”this is an outstanding opportunity for existing Kornmeyer customers and new customers to realize tremendous savings on a remarkable selection of some of the best brand names in furniture and accessories.” Based in Enfield, Connecticut, Planned Furniture Promotions, Inc. provides high-yield strategic furniture high-impact, liquidation and store closing services. Over the years, Planned Furniture Promotions, Inc. has conducted liquidation events for many well known retail furniture stores including Leath Furniture, Huffman Koos, Rhodes and Levitz.
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