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IPFS News Link • Economy - Economics USA

High-end furniture retailer Robb & Stucky files for Ch. 11

"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.