Hendricks closing two North Carolina stores
By Jay McIntosh -- Furniture Today, March 30, 2009
Conover, N.C. — Top 100 company Hendricks Furniture Group will close two North Carolina stores in Raleigh and the Charlotte/Lake Norman area, consolidating their operations into other stores, the retailer has announced.
Hendricks said it also will revamp its Boyles Distinctive Furniture store in Mocksville, N.C., adding a company-wide outlet center and rug center.
Company officials said the moves are the final phase of a restructuring that began earlier this year with the closing of two money-losing Norris Furniture & Interiors stores in Naples and Fort Myers, Fla.
Last year, the company also sold its remaining 10 Thomasville Home Furnishings stores to Thomasville Furniture Inds.
Company President Chad Hendricks said in a press release that the latest moves "are unfortunate but proactive — and protective.
"For years, we've tried to rationalize things like unreasonably high leases or failed single-line stores we converted into Boyles locations. In this economic climate, it's proven impossible to carry burdens like that without jeopardizing our productive stores and our customers' experience," Hendricks said.
After a moving sale, remaining product and customer accounts from Boyles' Raleigh store will be transitioned to the chain's High Point store. Remaining inventory and accounts from the Charlotte/Lake Norman store will be transferred to the Carolina Place/Pineville store on Charlotte's south side.
After the moves, the company will have eight locations in North Carolina and South Carolina. Hendricks operates six storefronts in the Hickory, N.C., Furniture Mart, but counts that as just one location.
In Mocksville, the company operates a 45,000-square-foot Boyles store. Using space in that building that currently isn't utilized, the facility will be converted into a Boyles store, clearance center and rug center, which together will cover 70,000 square feet. The conversion is expected to be completed by midsummer.
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