Company officials have also announced that DJM Asset Management LLC of Melville, NY has been retained to dispose of the 29 store locations, which range from approximately 2,000 to almost 25,000 sf, including downtown, strip center and freestanding locations, and are scattered throughout New Jersey, New York, Connecticut, Massachusetts, Maryland, Pennsylvania, Michigan, North Carolina and Virginia. The disposition process also includes warehouses located here and in Raleigh, NC.
The company has also hired the Chicago-based Great American Group and the Boston-based Gordon Brothers to run going-out-of-business sales and liquidate a chain-wide inventory estimated to be worth some $12 million. The product lines include bedroom sets, living and dining room sets, entertainment systems and home office systems.
Company officials could not be reached for further comment.
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