Another Retailer Now Begins an Unexpected Liquidation

Another retailer now begins an unexpected liquidation after initially filing for Chapter 11 bankruptcy, sources report.

When Ruby Gordon, a Rochester N.Y., furniture chain filed for Chapter 11 bankruptcy, it reported that it owed money to between 100 and 199 creditors.

At the time of the filing the company was confident that it could reach deals with its creditors and survive, reports TheStreet.

However, the company has now filed for Chapter 7 liquidation.

“We’ve been struggling to recover since 2020.

Unfortunately, in the last eight months, too much went sideways in too short an amount of time,” the company’s owner and chief executive, Aaron Ruby, told Furniture Today.

“We’re hoping that Chapter 11 gives us a chance at having a future; we’re just not certain exactly what that will look like.”

Ruby Gordon has been part of the upstate New York community for nearly 90 years.

“With a history dating back to 1936, we are committed to bringing the best designs and best customer service to our customers,” the company said on its website.

“We are a third generation, family-owned furniture store with a passion for making your space a home.”

Currently, “43 customers listed in the bankruptcy filing, all folks who paid for furniture they never got. Total owed to these folks? Around $5,480,000.23,” according to Rochester’s News10NBC.

While the Ruby Gordon website still operates, customers currently only have access to view their merchandise.

They can see what the retailer might have, but purchases have been halted pending an upcoming liquidation sale.

When you visit RubyGordon.com, there is a large banner headlined “Big Sale Coming Soon.”

It is then followed by “Watch Out for Our Chapter 11 Bankruptcy Liquidation sale.”

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Also Read: A Massive Shoe Retailer Is Now Closing Locations

Other Economy News Today

Market News Today - Another Retailer Now Begins an Unexpected Liquidation.
Market News Today – Another Retailer Now Begins an Unexpected Liquidation.

A retailer with 1,049 stores now makes an unexpected closure, shutting a major location in Stafford, Virginia, sources report.

Best Buy is closing a key location in Stafford, Virginia — the tech store first opened in 2008.

Luckily for shoppers, two other Best Buy locations are nearby in Fredericksburg and Woodbridge, reports The-Sun.

They are about 25 minutes and 21 minutes away from the Stafford store, respectively.

The U.S Sun reached out to the Best Buy location and no one answered after repeated tries.

The paper contacted nearby businesses who said the store looked “vacant.”

However, there are currently 31 other Best Buy locations throughout Virginia.

A Best Buy shopper recently made a TikTok criticizing the store’s extended return policy.

The TikToker (@nldoty) was shocked when he was told he only had two weeks to make a return.

“They’ve changed things in a way that I don’t understand how Best Buy thinks this is either both feasible or sustainable,” he told viewers.

“Remember how when you buy something you get a 30-day return window? It breaks, you don’t like it, etc. You can return it within 30 days and get your money back.

“Best Buy has shortened that to two weeks unless you signed up for their paid annual membership – I’m not making this up.”

He explained that if he paid $50 for a year of membership, he would have gotten $30 off of the purchase and an extended return window of 60 days without a receipt.

“Brick-and-mortar stores are now microtransacting the hell out of us,” he added.

Another added: “Retail is dying in front of us.”

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Also Read: Supermarket With 200 Stores Is Now Closing For Good

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Market News Today - Another Retailer Now Begins an Unexpected Liquidation.
Market News Today – Another Retailer Now Begins an Unexpected Liquidation.

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