Saturday, February 19, 2011

Robb & Stucky files for Ch. 11

High-end furniture retailer Robb & Stucky is the latest casualty of the sluggish economy and changing shopping patterns.

The retailer, based in Fort Myers, Fla., maintains a design center and patio showroom in Scottsdale at 15440 N. Scottsdale Road. Robb & Stucky filed for Chapter 11 bankruptcy protection on Friday.

The company employs about 1,300 people and isn't contemplating store closings for now, spokeswoman Michelle Campbell said.

Dan Lubner, president of Robb & Stucky's hospitality-design division, said the company would use the Chapter 11 process to find a buyer for the company.

Its stores will remain open as it navigates the sale process.

"At this time, we are focused on charting a path that will lead us into the future," Lubner said. "We are endeavoring to locate a buyer that will maintain the company's brand standards, associates team and strong focus on customer needs and service."

The difficulties confronting Robb & Stucky stem from the challenges that have affected many real-estate-related industries since the housing market began its slide in 2007.

The home-furnishings industry was among the hardest hit by the significant decrease in consumer spending in the recent recession.

The company has secured commitments for debtor-in-possession financing that will be used to fund operations pending the transaction.

Founded in 1915 in Fort Myers as a one-store general merchandise emporium, Robb & Stucky has evolved into a nationally recognized chain of 30 stores in Florida, Texas, Arizona, North Carolina and Nevada.

by Max Jarman The Arizona Republic Feb. 18, 2011 03:11 PM

Robb & Stucky files for Ch. 11

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