Rhodes exits Colorado

Article Abstract:

American Furniture Warehouse has bought eight Rhodes stores in Colorado from Richmond, VA-based Heilig-Meyers for more than $10 million in a deal that allows American Furniture to speed its growth drive. The sale, which includes leases, a 210,000-sq-ft warehouse and inventories, also allows the troubled Rhodes chain to exit a market that is described as unprofitable due to tough competition and is very different from Rhodes' strong position in the Southeast market. The Colorado stores to be acquired by American Furniture include five in metro Denver and three in Colorado Springs, Grand Junction and Fort Collins.

Comment:

Buys 8 Rhodes stores in Colorado from Heilig-Meyers for over $10 mil in a deal that allows American to speed its growth drive

Facilities & equipment, Furniture Stores, American Furniture Warehouse Co., Article

Rhodes bids for Homemakers

Article Abstract:

Rhodes Furniture has made a bid to acquire John M.Smyth's Homemakers three-store chain. The chain is based in Chicago, Illinois. The bid would end Heilig-Meyers's plans to liquidate the chain.

Illinois, Rhodes Furniture Inc.

Heilig to liquidate Homemakers

Article Abstract:

Heilig-Meyers is planning to terminate its John M. Smyth's Homemaker store chain as it failed to find a buyer. The chain entails three stores.

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