Daily News: April 11, 2012

RoomStore Finds Buyer for Ten Texas Locations

A Furniture Today article said that bankrupt retailer RoomStore Inc. has found a buyer for its ten Texas locations. Rooms To Go will pay about $2 million for the locations, the article said.

The buyer will also buy 100% of the value of the stores’ inventory, however it will keep the proceeds from the sale of leases and then will conduct going-out=of business sales at the stores, the article noted.

RoomStore said in court documents that the agreement provides the best offer for its assets in Texas and asked the court to approve the purchase.

The acquisition will include the ten leases, rights to use the RoomStore name, trademarks and logos in the state and for customer lists, the article said.

To read the Furniture Today article in its entirety, click here.

Previously on abfjournal.com:

RoomStore to Close Ten Remaining Stores in Texas, Wednesday, April 04, 2012