updated: 1/5/2010 2:33:54 PM

Large Furniture Store to Close in Hamilton County

InsideINdianaBusiness.com Report

Ashley Furniture HomeStore says it is closing its Carmel location after new lease terms could not be reached. The company has been operating the almost two acre facility since 2002. A total liquidation will begin January 14. Ashley Furniture's two others locations in Greenwood and Avon will not be affected.

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Source: Inside INdiana Business

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Press Release

Carmel Indiana - January 5, 2010 -- Because new lease terms could not be reached for the Carmel location of the Ashley Furniture HomeStore, this almost two acre location will close when all furniture on hand is sold. While inventory remains at the Ashley Carmel location, this store will conduct A TOTAL INVENTORY -TOTAL LIQUIDATION EVENT! Everything will be sold to the bare walls and the store closed.

Since 2002, Ashley Furniture HomeStore has successfully provided thousands of Indianapolis residents with fine home furnishings at Ashley direct prices. The other two locations in Greenwood and Avon are not affected by this event and will continue to serve the Indianapolis area. Plans include opening a new location in the north side of Indianapolis in the near future. Although disappointed with loosing the Carmel address, it provides store owners an opportunity to say "Thank You" to local customers by offering prices below cost.

"The total liquidation of our Carmel store will begin on January 14th and last only as long as inventory remains," said Chris Caprio CEO/President of KHF Holdings LLC, a licensee of Ashley Furniture HomeStore. Caprio went on to say, "We have reductions of up to 75% on every item in the store including living rooms, bedrooms, dining sets, recliners, flat panel TV’s and thousands of fine accessories, objects of art and rugs. Over $5 million dollars of fine home furnishings must be sold as quickly as possible at the lowest prices in the store's history." Caprio continued, "Every item in our multi-million dollar inventory will be sold, regardless of cost. This is a wall-to-wall total sell-off.”

The decision to close the Carmel showroom, one of three Indianapolis stores, was made by Chris Caprio, who has revealed plans for the store closing event. In announcing the closing, Caprio stated, "The decision to close this location has been a difficult one. The Ashley Furniture HomeStore has been an important part of Northern Indianapolis for a very long time and we don’t want to adversely affect the great success we have enjoyed here. Everyone involved will make every effort to make this liquidation event a benefit to our customers.”

Caprio continued saying "We've decided to offer prices below our costs. This event will give the area residents the opportunity to own fine home furnishings at once-in-a-lifetime savings.”

Details:

The Carmel store closing total liquidation will begin on Thursday, January 14th, and will continue until all merchandise is sold regardless of cost. Advisors to the event will be Illinois based Deere Park & Associates, one of the leading consultants to the furniture industry. According to Chris Caprio, “Deere Park & Associates was clearly the best furniture consultant in terms of reliability, integrity, professionalism, resources, and proven success. It is very important to us to maintain the standards and reputation we expect to keep.”

Source: Ashley Furniture

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