24 - June 2 through June 8, 2011 - Edition 50
The Boca Raton Tribune BUSINESS East/West Boca Raton, FL
Boca Raton losing two furniture stores to bankruptcy * Laser Hair Removal * Skin Rejuvenation * Cellulite Treatment
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BOCA RATON – Bankruptcy is striking down two furniture stores in Boca Raton. In February, Fort Myersbased Robb & Stucky, which has operated a store in Mizner Park and another on Federal Highway, filed for Chapter 11 bankruptcy. The highend furniture retailer in business for 95 years has chosen to shutter all of its properties. In just the past few weeks, a multitude of signs have sprouted up outside Carls Furniture Store on North Federal Highway in the city’s north end, signaling another Chapter 11 bankruptcy. However, store officials said the firm hopes to emerge from bankruptcy with several stores following a consolidation. The Boca location, which the store official said is leased, will be closed as a Carls location, but will be taken over by Haverty’s. Another Carl’s location, this one in South Miami,
will be reopened under the Baer’s Furniture name. In its filing, Carls listed assets of $6.1 million and debts of $9.1 million. A dozen industryrelated companies are listed among its 20 largest unsecured creditors and are owed $2.4 million Carls is not affiliated with Carls Patio, and the seller of outdoor furniture will continue operating. Carls Furniture sold its inter-
est in the patio furniture chain in a 2008 buyout. In addition to the Boca and South Miami stores, Carls has five locations. A clerk in the Boca Store told the Boca Raton Tribune the place is expected to close in about a month. Robb & Stucky initially filed for Chapter 11, but then chose to go with a total liquidation. The firm is closing down 20 stores in Florida, Texas, Arizona
and Nevada. Coincidentally, Robb & Stucky opened its store in Mizner Park following the closing of Jacobson’s Department Store, also due to a bankruptcy filing. Jacobson’s had been located in Mizner Park since the retail/cultural/ residential center opened in the late 1980s. The Jacobson’s shutdown ended a retail store chain that began in Michigan in 1838. In 2002, the company finally filed for bankruptcy after closing some of its poorer-performing stores. Originally, the company filed for Chapter 11 and sought to reorganize. Later in the year, however, the Jacobson’s chain went out of business completely and closed its remaining 18 stores. The Robb & Stucky patio store is located on Federal Highway just north of Mizner Boulevard.
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