A LEGENDARY furniture retailer has suddenly shut down after 34 years in business.
All 24 nationwide stores have closed immediately after 533 employees were laid off in a shocking way.
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Mitchell Gold + Bob Williams is no more, the latest casualty in the struggling furniture industry.
The upmarket manufacturer and retailer informed employees Saturday, August 26 that they need not come back to work on Monday, August 28.
All 24 stores coast to coast have closed, and The U.S. Sun was unable to get a hold of anyone to speak to regarding the shutterings.
The laid-off workers were notified with a sign taped on the factory gate in Taylorsville, North Carolina, as reported local outlet Taylorsville Times.
“Mitchell Gold + Bob Williams has recently and unexpectedly learned that we are unable to continue business operations,” read the note.
Meanwhile, a letter on the office door of interim chief executive officer Chris Moye further explained the decision to close.
“As you may know, the current economic climate has presented significant challenges to the furniture industry,” the exec wrote.
“While we have been buoyed by the support of our wonderful employees, like yourself, the [company] has recently and unexpectedly learned that we are unable to secure critical financing to continue business operations.
“Because these events were unforeseen, we were unable to provide you and others with more notice of this difficult decision.”
Not only was Mitchell Gold + Bob Williams known for its iconic sofas, sectionals, and chairs, but the company also made furniture for well-known stores like Pottery Barn and Crate & Barrel.
It opened its first signature store in 2007, surviving the global recession the following year and the 2020 pandemic.
But Mitchell Gold + Bob Williams is just the latest company to experience difficulties in a struggling furniture industry.
STRUGGLING INDUSTRY
Last year, Ashley shuttered a factory in Statesville, North Carolina, laying off 111 workers.
The company is now going through a rebrand of its retail store as it attempts to attract a younger customer base and remain viable in the future.
Earlier this month, Klaussner Furniture, sold at stores like Wayfair and Furniture Depot, shut down operations and immediately let go of 893 employees.
But stories of layoffs and store closures are not exclusive to the furniture industry.
Even some well-known big box stores have failed to stay afloat amid the so-called “retail apocalypse.”
Bed Bath and Beyond lost all 360 stores in July following a bankruptcy filing.
And Tuesday Morning also went the way of the dodo last month.
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