Los Angeles' McMahan's shutting down operations

Former Top 100 retailer falls victim to downturn

Staff Staff -- Furniture Today, August 26, 2008

LOS ANGELES - Former longtime Top 100 retailer McMahan's will shut down operations after a going-out-of-business sale, one of the latest industry victims of the economic downturn, according to news reports.

The credit-oriented retailer, which has trimmed operations to 15 McMahan's stores and two La-Z Boy Furniture Galleries in California and Oregon, cited an extended poor business climate for its demise. There was no word on whether the company will file for bankruptcy protection.

Vice President Taylor Ganz, who leads the company, could not be reached immediately for comment.

The Times-Standard of Eureka, Calif., ran a story on the subject yesterday.

McMahan dropped off Furniture/Today's Top 100 this year with estimated furniture, bedding and accessories sales of $45 million in 2007, down 15.1% from 2006.