Daily News: April 4, 2012

RoomStore to Close Ten Remaining Stores in Texas

According to court documents, The RoomStore is planning to close its remaining Texas stores as it continues restructuring under Chapter 11 bankruptcy protection.

The company noted in a court filing that it wants to close all ten stores in the Lone Star State: eight in the Dallas/Fort Worth area and two others in Temple and Waco.

RoomStore asked the court to set an auction for April 9 to determine the highest bidder for selling off inventory, furniture, fixtures and equipment in Texas.

If the Texas store closings are approved, RoomStore will be left with 27 stores in Maryland, Virginia and the Carolinas.

The company noted in the filing that the proposed sale will generate money to pay down its secured lender, Salus Capital Partners.

Previously on abfjournal.com:

Salus Capital Partners Closes $15MM DIP Facility for RoomStore, Thursday, February 16, 2012