GARDEN GROVE, Calif., Nov. 15, 2011 /PRNewswire/ -- Linder's Furniture, a premier furniture, mattress and electronics retailer in Southern California, is closing its doors for good. Going-out-of-business sales will begin on Thursday, November 17, 2011 at all eight Linder's Furniture stores, two Linder's Clearance Centers and their one higher-end Legacy Furniture Store in Rancho Mirage. The sales will continue until the entire inventory is sold.
More than $20 million worth of furniture, mattresses and accessories will be marked down. Consumers who arrive first will find the greatest values amongst the broadest selection of merchandise, including sofas, chairs, tables, home theater seating, entertainment centers, beds, desks, handmade oriental rugs, and more.
On November 2, 2011, Linder's Furniture entered into a General Assignment for the Benefit of Creditors under California law, an alternative to bankruptcy. As of today, Linder's has made the difficult decision to close its doors.
"Despite our best efforts, these turbulent times have left us with no choice but to wind down our operations. We believe this decision is in the best interest of our customers, employees and creditors," stated Eric Foucrier, President of Linder's Furniture.
Philip Linder, Chairman of Linder's Furniture, commented, "Sadly, this marks the end of our 31-year history. We very much appreciate the loyalty our customers have shown us over the years. As a final 'thank you,' we encourage them to take advantage of these incredible values, especially as the holiday season is about to begin."
The going-out-of-business sale is being managed by a joint venture between Gordon Brothers Group, LLC, a global advisory, lending and investment firm and APJL Consulting, LLC, a liquidation firm specializing in home furnishing retail stores. All sales made after November 2, 2011 are final. Returns made on merchandise purchased prior to November 2, 2011 will be handled in compliance with the existing Linder's return policy. Terms of payment include Visa, MasterCard, Discover, American Express, Approved or Certified Checks, and Cash. All other forms of payment, past or present, are no longer accepted including financing, Linder's Furniture Credit Card, store credits, gift certificates, and/or any other coupons issued.
"With the discounts that consumers will be getting on the furniture, we expect the merchandise to sell out fast. We encourage customers to shop early when the broadest selection of merchandise is available," said Tim Shilling, Vice President, Gordon Brothers Group.
Founded in 1980 by Philip Linder, Linder's Furniture is a premier furniture and design showcase in Southern California. A former Western Home Furnishings Association "Furniture Retailer of the Year" with 10 conveniently located showrooms, Linder's has consistently offered the best selection of high-quality home furnishings, mattresses and home theater products at the guaranteed lowest prices.
About Gordon Brothers Group, LLC
Founded in 1903, Gordon Brothers Group (www.gordonbrothers.com) is a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments, and operating businesses for extended periods. Gordon Brothers Group conducts over $50 billion in transactions and appraisals annually.
About APJL Consulting, LLC
With over 35 years of experience in the Furniture Liquidation Industry, APJL Consulting has been helping furniture retailers find the best solutions to their challenges. Its seasoned and experienced management team provides retailers with a detailed sales plan, first quality service, and consistently great results.
SOURCE Gordon Brothers Group, LLC