Home / Business and Economy / Furniture Giant Files Bankruptcy Amid Housing Slump
Furniture Giant Files Bankruptcy Amid Housing Slump
25 Nov
Summary
- American Signature Inc. filed for bankruptcy protection due to market decline.
- The company plans to close 33 stores, impacting about 3,000 employees.
- Sales dropped significantly from $1.1 billion in 2023 to $803 million in 2025.
American Signature Inc., a family-owned furniture retailer established in 1948, has sought bankruptcy protection. The company, which operates Value City Furniture and American Signature Furniture chains, is shuttering 33 stores across the US, representing about a quarter of its locations. This move will affect approximately 3,000 employees.
The retailer cited several factors for its financial distress, including a severe housing market decline, rising operational costs, and import tariffs. Court filings revealed a sharp drop in sales, from $1.1 billion in 2023 to $803 million in 2025, alongside significant net operating losses.
American Signature Inc. is liquidating inventory and closing underperforming stores as it pursues the sale of its remaining businesses and assets. The Schottenstein family, which founded the company, is reportedly involved in the potential acquisition through an entity named ASI Purchaser, LLC, pending court approval.
