Mirador closing, liquidating remaining inventory
Thomas Russell -- Furniture Today, May 6, 2007
High Point — High-end case goods and occasional furniture importer Mirador is closing and will liquidate remaining inventory.
President Richard Henkel cited slow business in the past six-to-eight months in the high-end sector.
Mirador, based in High Point, had discussed sale of the company with a business partner and other interested parties, he said, but nothing could be worked out. "We decided to go on as long as we could, and last week we decided to liquidate," Henkel said.
The company had cut SKUs from an estimated 650 items in 2005 to the current 200, and reduced the number of source factories from 11 to three last fall.
Henkel said the core 200 SKUs have been well received by retailers, and there was strong dealer response to new items at the spring High Point Market, but there simply weren't enough orders for the company to continue.
Inventory liquidation has begun and is expected to take from 30 to 90 days. Henkel declined to estimate the cost of the remaining goods.
Mirador's closing marks the end of a marketing company founded by Dan Wistehuff and his son seven years ago. Henkel came on board in July 2006 to replace President Paul Megliola, who left to return to his consulting practice. Vice President of Sales Hal McAdams joined in mid-2006 from Vermont Tubbs.
Henkel said it was too early to say whether he and McAdams would start a new venture.
