AMC Liquidators expands into residential
Clint Engel -- Furniture Today, June 15, 2008
FORT LAUDERDALE, Fla. — AMC Liquidators has expanded into residential home furnishings with the addition of that category to its two stores here.
The company, which is better known for its upscale hotel and office furniture liquidation operations, added primarily high-end residential furniture and home accents to its stores on Commercial and East Las Olas boulevards.
The 4,500-square-foot Las Olas store — Las Olas Carriage Trade — was converted entirely to residential home furnishings while about 65% of the 12,000-square-foot AMC Liquidators showroom on Commercial Boulevard is dedicated to the category, said Michael Grimme, CEO of the Fort Lauderdale-based company.
He would not disclose the company's investment in the expansion or projected sales from residential home furnishings, but estimated that nearly 60% of AMC's business is now coming from the residential furniture side, a big jump from a year ago.
With Florida's housing market hard hit, AMC saw an opportunity to move into the residential category, he said. Grimme said condo sales essentially have come to a halt in South Florida and many interior designers have too much inventory.
“The current downturn in the local economy has presented opportunities for us to buy at extremely attractive prices,” he said. “We've been buying a lot of their excess inventory, whether it's samples or (as a result of) downsizing the size of their operations.”
AMC also buys from retailers, manufacturers, importers and distributors, he added.
The stores offer furniture from lines including Lane, Lexington, Hooker, Drexel Heritage, Broyhill, Stanley and Bernhardt.
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