Letters to the Editor
By Furniture Today Staff -- Furniture Today, June 12, 2006
Stop closing so early at H.P. market!
What's wrong with manufacturers at the High Point market?
I can't believe showrooms close on Sunday; even the biggest in the International Home Furnishings Center were closed on Monday and Tuesday. There were more closed than open, and forget the outlying buildings.
Can you imagine a retailer that's only open every six months for seven days closing two or three days early? Then, (the manufacturers) complain they don't have any customers or they go out of business.
I can't tell you how many retailers we saw on Monday, Tuesday and yes, Wednesday. They asked, "Why are so many showrooms closed?" My response was, "I guess they don't need your business but we do! Come on in."
How would you feel if you spent your money to attend a show that bills itself open and you get there and half of the showrooms are closed? Would you think business is so good they must be all sold out, or maybe business is so bad they just gave up? If you want to put another nail in High Point's coffin, keep closing early. The hammer is about to fall.
If all you are interested in is the Top 100 retailers, why don't you open two days for them and hang a sign saying, "We saw the top 100 and don't need your business!" Every building's lease states that you must be open, but I guess that doesn't apply to everyone!
The market claims attendance is 100,000. Who cares when 50% or more are factory reps, market support people, guests and suppliers? What is the real buyer count? That is the number we need to know.
Let's assume it is 50,000. Then, each store only brings two people. Guess what? That makes approximately 25,000 true buyers. (They are the people that sign the purchase order.) Of course, if you were not open, how would you know that?
We had a great market. Was it the biggest in attendance? Almost. Was it the biggest in volume? Almost.
We thank God for the retailers that did shop Ultimate Accents, even on Wednesday, May 3.
Ray Steele, Vice president of marketing, Ultimate Accents
Make sure you research liquidation companies
I am a retailer who had a very bad experience with a furniture liquidation company. I have since spoken with scores of people, ranging from retailers and creditors to bankruptcy court trustees, who have had similar experiences.
I would like to help other retailers who might find themselves in need of hiring a liquidation partner. The following is a list that, if I had used it, would have avoided most of my problems.
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Ask the liquidation partner you select if they are bonded and, if not, insist on a bond.
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Require criminal background checks on all liquidation personal that will be in control of, or have access to, money and inventory.
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Require a complete set of financials and a Dun & Bradstreet report on your liquidation partner.
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Require a complete written inventory of all items, including all salable inventory, office and store supplies, equipment and fixtures.
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Require your liquidation partner to disclose in writing all conflicts of interest they may have with vendors or suppliers.
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Require your liquidation partner to disclose the salaries and benefits that will be paid to each person they bring with them.
I would hope that before retailers hire a liquidator, they would verify the information provided by the liquidation companies.
J.D. Davis, Liberty City, Texas
