Broyhill Furniture Showroom to close
Broyhill Home Collections, sometimes referred to as the Broyhill Furniture Showroom, will no longer be in business after this week. Its parent company, Heritage Home Group LLC, will also be closing the Broyhill Furniture showrooms in Hickory and Granite Falls.
Five employees in the Blowing Rock store will lose their jobs and will not be transferred to other positions within the company, according to one employee.
The property is currently owned by the Rosemyr Corporation of Henderson.
The company specializes in leasing large commercial real estate properties, including entire shopping centers, in North Carolina and Virginia.
According to Lois Williams of the Rosemyr Corporation, no one has yet signed a new lease for the building, but inquiries have been made by the town of Blowing Rock and by a business that is interested in keeping it a furniture showroom.
The Broyhill Home Collections is currently in the process of selling off as much of its inventory as possible before the end of the week. Some items were listed as 80 percent off their original price.
Broyhill Furniture was controlled by Furniture Brands International Inc. for the past 12 years, until it filed for Chapter 11 bankruptcy on Sept. 9, 2013.
KPS Capital Partners purchased Furniture Brands International for $280 million at public auction on Oct. 2 and within days of gaining approval of the sale by the U.S. Bankruptcy Court, changed its name to Heritage Home Group.
In early 2000s, Furniture Brands International was the leading furniture manufacturer in the country, with more than $2 billion in annual sales.
For the past eight years, however, it has experienced steady declines in revenue.
In the past 12 years, Furniture Brands has eliminated at least 8,860 jobs in North Carolina, many of them the result of moving manufacturing overseas.