The famous furniture store Z Gallerie filed for Chapter 11 bankruptcy protection for the third time. The store has begun the liquidation process while marking down its merchandise and closing stores at multiple locations. B. Riley Retail Solutions has been hired to execute the closing sales across the company’s 21 stores. Items such as furniture, bedding, home decor, and more are marked down starting at 40% in association with the event. Also, CSC Generation Holdings Inc., the owner of the retailer filed for bankruptcy in the U.S. Bankruptcy Court in the District of New Jersey this month as well. CSC bought Z Gallerie and DirectBuy Home Improvement Inc. out of bankruptcy in July 2019 for $20.3 million.
Source: Closing Time: Chapter 11 filer Z Gallerie begins liquidation sale
Photo by Albero Furniture Bratislava on Unsplash