Company has no plans to reopen HomeLife
Advertiser Staff and News Services
HomeLife Furniture Corp. yesterday disclosed that it would not fulfill existing customer orders, would liquidate leftover merchandise, and would not reopen its stores and warehouses nationwide.
Or call the company's hot lines:
The retailer based in Hoffman Estates, Ill., shut its 130 stores in 26 states on Wednesday — including its two in Hawai'i — but said the closure was temporary. The company said it was forced to close after failing to obtain $65 million in emergency financing.
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Customers who have paid for furniture orders and do not received refunds by Aug. 3 should visit the company's Web site at www.ehomelife.com
(877) 570-2336
(847) 649-7000
Yesterday the company posted a notice on its Web site disclosing its change in plans for reopening and delivering merchandise.
The company said it expected to issue refunds by Aug. 3 to customers who had paid for furniture orders. Customers who have not received refunds after that date were directed to visit the company's site at www.ehomelife.com.
Also, customers can call the company's hot lines, (877) 570-2336 or (847) 649-7000.
Sears, Roebuck & Co., which started the company in 1989, sold a majority interest in the company in 1998 for $100 million. It retained a 19 percent stake.
HomeLife had employed 2,000 nationwide. In Hawai'i, where HomeLife operated inside Sears at Ala Moana Center and at the Sears distribution center in Pearl City, the number of employees was unavailable.
Analysts differed on why HomeLife, a furniture chain with $680 million in sales last year and ranked eighth-largest nationally, had failed.
Some analysts said a slowing national economy had cut into consumer spending on big-ticket items; other said the company had struggled with operational costs.
For Hawai'i residents, the chain's permanent shutdown was not expected to have a significant impact.
"There are still lots of retail furniture stores in Hawai'i," said local market researcher Marty Plotnick. Among them: C.S. Wo Gallery; HomeWorld; Inspiration Furniture, which is building a second showroom and design center; Z-Interiors; Liberty House; J.C. Penney Co.; and many smaller stores.
The local furniture retailing market, in fact, has been strengthening over the past year by riding a strong tide of home sales and attractive interest rates. Still, some of the gains have gone primarily to certain segments of the market.
