DeBasio Furniture to Close Their Doors After 78 Years

Aug 25, 2006, 01:00 ET from DeBasio Furniture

    ST. LOUIS, Aug. 25 /PRNewswire/ -- After 78 years of serving families
 in the greater St. Louis area, DeBasio Furniture, known for generations for
 its wide selection of fine home furnishings and superior service, will be
 going out of business and will soon close its doors for the last time.
     In 1928, John DeBasio, Sr., noting the boom in single family homes,
 opened the first DeBasio Furniture store on Lemay Ferry Road. His goal was
 to provide new homeowners with quality, value-oriented home furnishings and
 outstanding customer service before and after the sale. John saw his
 business grow as more and more new customers discovered DeBasio and
 familiar customers returned. In 1987 a second DeBasio furniture store was
 opened on Clayton Road in Ellisville to serve the expansion into the West
 County area.
     To thank all the customers who have supported them over the years, John
 DeBasio, Jr., Chairman of DeBasio and son of the founder, today announced
 plans for a store closing going out of business event that will start
 August 31st. Mr. DeBasio stated, "It has been a wonderful 78 years, and the
 decision to close a family owned business is always a very difficult one.
 We love being a part of the community, and have been blessed to have great,
 loyal customers."
     "Now we want to show our appreciation to these customers with the
 biggest furniture event ever held in St. Louis," DeBasio continued. "We
 will fulfill all our obligations and commitments."
     Every item in the DeBasio multi-million dollar inventory will be sold
 at the lowest prices in the company's history. "Over three acres of
 merchandise will be reduced up to 75%, giving customers the opportunity to
 own home furnishings at once-in-a-lifetime savings," DeBasio stated. "If we
 have to close, we want to do it with a meaningful event, saying good-bye
 and thanks to our long-time customers."
     According to company president Mike Noblot, the decision to close
 DeBasio Furniture was based on trends in the furniture industry as well as
 the economy. "In recent years it has become harder and harder for
 independent, family owned furniture retailers to compete with the national
 and international mass merchandisers. At the same time, foreign
 manufacturers have greatly changed the nature of service and quality,"
 Noblot stated. "Rather than having to compromise on quality, value, or
 service, we felt the time was right to make a graceful exit."
     The DeBasio going-out-of-business total liquidation will begin on
 Thursday, August 31, 2006 and will continue until all merchandise is sold.
 The event will be supported by Northbrook, Illinois based Deere Park
 Associates, one of the leading consultants to the furniture industry.
 According to Mike Noblot, "Deere Park Associates was clearly the best
 furniture consultant in terms of reliability, integrity, professionalism,
 resources, and proven success. It is very important to us to maintain the
 standards and reputation we've earned over the past three-quarters of a
     The DeBasio store closing liquidation will take place at their two
 stores located in South County at 2151 Lemay Ferry Road in St. Louis, and
 in West County 15892 Clayton Road in Ellisville.

SOURCE DeBasio Furniture