TITLE

D.C. retailer to close

AUTHOR(S)
Engel, Clint
PUB. DATE
May 2006
SOURCE
Furniture/Today;5/22/2006, Vol. 30 Issue 36, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that furniture retailer Mastercraft Interiors Inc. has filed for bankruptcy and will close its five remaining stores in Washington D. C. The loss is attributed to mounting debt, liquidity crisis, poor sales, new competition and its inability to find a buyer for the business. Sales in 2005 were 45.3 million U.S. dollars, down by 5.2 million U.S. dollars from the previous years. The company owes top industry suppliers nearly 2 million U.S. dollars.
ACCESSION #
20908345

 

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