NEWS BRIEFS.(RoomStore Furniture and Accessories, Hilco Real Estate L.L.C., Hilco Merchant Resources together buy Rhodes Inc.)(Ron Ainsworth resigns from Fashion Bed Group)(Leda Home Furnishing Corp. introduces self locking system)
HFN: The Weekly Newspaper for the Home Furnishing Network, July, 2005
THE ROOMSTORE has teamed up with a liquidation specialist and has signed a letter of intent to purchase 51 Rhodes stores for $38.8 million. RoomStore, along with Hilco Merchant Resources and Hilco Real Estate, is looking to buy Rhodes, which has been operating under Chapter 11 of the U.S. Bankruptcy Code since November 2004.
Rhodes owes its creditors $59.5 million. RoomStore has 65 stores in Pennsylvania, Maryland, Virginia, North Carolina, South Carolina and Texas with sales of $330.3 million. Rhodes has 65 stores in 11 states and sales of $439 million. In addition to RoomStore's ...
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