The Room Source to Hold $10 Million Bankruptcy Liquidation Sale

Furniture World Magazine

The Room Source, a moderately-priced furniture chain with six locations in California, will conduct a court-ordered bankruptcy liquidation sale beginning June 28, 2008. The sale was ordered by the bankruptcy court as a result of The Room Source’s Chapter 11 filing on June 25, 2008. The sale was announced by Hudson Capital Partners, LLC, a national firm specializing in retail dispositions and asset recovery, which is managing the liquidation. Merchandise [valued at $10 million] will be sold at below market prices and will include furniture for every room in the home. Featured items will include upholstered and leather seating, bedroom and dining sets, and accessories such as rugs, art, mirrors, table top and silk plants. “For over 10 years, The Room Source has served the California market with a diverse assortment of quality, name brand home furnishings,” commented Jim Schaye, President and CEO of Hudson Capital Partners. “This sale represents a final opportunity for consumers to enjoy remarkable prices on leading brands such as Lane, Guildcraft, Klaussner, Viewpoint, Sealy and Broyhill.” Following the liquidation sale, which is expected to take several weeks, all of The Room Source locations will be closed. The Room Source has four locations in the Sacramento, area, as well as one in Stockton and one in Modesto. The Room Source has been operating under Chapter 11 of the Bankruptcy Code since June 25, 2008 (U.S. Bankruptcy Court, Docket # 08-28487-MM). About The Room Source: The Room Source, established in 1997, operates six locations in California, with four in Sacramento, one in Stockton, and one in Modesto. It is a full service retailer offering famous name brand home furnishings at moderate prices. Showrooms are fully vignetted with room displays, and average between 22,000 and 60,000 square feet. About Hudson Capital Partners, LLC: Hudson Capital Partners, LLC offers an extensive array of professional solutions to the challenges retailers face today, including management of excess, obsolete and discontinued inventory, changing geographic and demographic circumstances, unproductive store sites, and real estate and liquidity issues. The firm’s diversified staff is experienced at performing strategic store closings and relocations, fixed asset dispositions, wholesale inventory buyouts and lease mitigations. To learn more about Hudson Capital Partners, please visit www.hudsoncpl.com.