Hendricks Furniture closing two North Carolina stores
March 20, 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 announced Friday.
Hendricks said it also will revamp its Boyles Distinctive Furniture store in Mocksville, N.C., adding a company-wide outlet center and rug center to what is now a full-line Boyles store.
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., along with two warehouses that supported the stores.
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," he said.
Boyles' Raleigh store will be closed after a weekend-long moving sale, after which remaining product and customer accounts will be transitioned to the chain's High Point store. The Charlotte/Lake Norman store will conduct a month-long moving sale before transferring remaining inventory and accounts 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.
"The most difficult aspect of this decision is the impact it will have on our dedicated staff," Hendricks said. "With regard to our loyal customers, we're confident we can still serve them from nearby Boyles locations. In fact, we're hopeful the elimination of redundant stores will help recapture sales we've cannibalized from these nearby successful units."
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