Major Furniture Store Going Out Of Business
Weekends Only Furniture & Mattress is going out of business. The news comes as its owner Tom Phillips announced his retirement, prompting the closure of its retail stores and e-commerce website. The St. Louis-based furniture store revealed the news on November 15th, adding that Planned Furniture Promotions will be handling the liquidation process and going-out-of-business sales.
While no date has been set for the furniture store closeout events, Planned Furniture Promotions expects sales to begin in January. The stores to be shuttered include five in metro St. Louis, two in Indianapolis, and one in Springfield, Missouri. Weekends Only employs about 400 employees with most continuing to work through the liquidation sales.
Speaking about the closure of his furniture store, Tom Phillips said, “After 25 years of serving the St. Louis area, Indianapolis, and Springfield, Missouri, we are so grateful for the many team members who worked with us and the customers we have been fortunate to serve. Store management emphasized that all current orders will be filled, Furniture Today reports.
The family-owned furniture store began as Phillips Mercantile in 1937. Then in 1997, Tom and Dave Phillips created the Weekends Only concept of 40,000 to 50,000 square feet showrooms that only operate on Friday, Saturday, and Sunday. The business was built by offering the best price on brand-name furniture without frills while offering a friendly and no-hassle customer experience.
Since 2014, the furniture store began selling goods online, with e-commerce representing 14% of its sales in 2021. With revenue of $74 million at the time, Weekends Only became one of the St. Louis region’s largest privately held companies, Business Journal reports. But Lane Hamm, who served as the retailer’s President and CEO, left the position in August after holding the position since August 2007.
However, Tom Phillips says he looks forward to his retirement from the furniture store. During his downtime, the 70-year-old plans to spend more time with his wife, Peggy, family, grandchildren, and friends. “We cherish the many friends we have made in the industry over the years,” he said. “But given the storm of challenges retailers, now is the time to retire and celebrate the success and good fortune we’ve had in the business.”
Sadly, Weekends Only isn’t the only furniture store that will be closing. Rotmans Furniture, a staple in Worcester, Massachusetts, will shut its doors after 60 years, The Boston Globe reported. The store kicked off its going-out-of-business sale on October 14th, with the store’s sales manager confirming that the closure is intended to give the current CEO, Steve Rotman, a chance to retire.
According to Best Life, Homestead Furniture in Nescopeck, Pennsylvania, which has been in business since 1982, will also be closing its furniture stores soon. While no official date has been set, the retailer’s going-out-of-business and liquidation sale began on October 31st. Huffman Koos, a popular furniture outlet with stores in New York and New Jersey, will also be closing two locations. The news was revealed on the store’s official social media pages.
