Luxury Furniture Store Robb & Stucky Files Chapter 11
Filed under: Decor
Luxury furniture retailer Robb & Stucky has filed for Chapter 11 bankruptcy protection here. The company sells a variety of high-end collections including Ralph Lauren home, Keno Brothers and Tommy Bahama but has struggled in recent years partly because its strongholds are in markets in Florida, Arizona and other challenging real estate markets.The company, which was founded in 1915 in Florida, has listed assets and debts in the range of $50 million to $100 million. Furniture Today reports that the bulk of the company's unsecured creditors are home furnishings companies which are owed about $8 million. The brand issued a press release saying that it is looking for a buyer. It employs about 1,300 people and stores will remain open during the transition.
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