Robb & Stucky Interiors
Encyclopedia
Robb & Stucky Interiors is a high-end interior design
and home furniture
retailer in the United States
.
Founded in 1915 in Fort Myers, Florida
as a one-store general merchandise emporium, the company has expanded to 20 showrooms in Florida
, Texas
, Arizona
and Nevada
. The company employs approximately 1,300 people. In addition, it has one of the largest in-house custom drapery and flooring departments in America.
Robb & Stucky is noted in its field for its pioneering stances in terms of visual merchandising and “lifestyle” displays, rather than grouping by manufacturer, which is the industry standard.
The Ft. Myers-based upscale furniture store was hard hit after expanding quickly into states that saw some of the worst of the real estate downturn.
On Feb. 18, the 96-year-old company filed Chapter 11 bankruptcy protection, citing debts of more than $50 million. Robb & Stucky officials had entertained offers from other potential buyers at an auction Monday, but ultimately chose the "stalking horse" bid from Hudson Capital and Hyperams. Those liquidators had previously agreed to pay more than $30 million for the company – or about 75 percent of the value of the inventory in its warehouses and showrooms, which is more than $40 million.
The company was unable to find a buyer to get the company back to basics. On March 11, 2011, Robb & Stucky commenced liquidation sales at all remaining stores.
The downfall of the furniture seller parallels the economic downturn and the crash of the real estate market, as fewer people needed new furniture for new homes.
Company sales fell to about $140 million in 2010 from $273 million in 2006. At one point, the company operated 30 locations in Florida, Texas, Arizona, North Carolina and Nevada, and more than 1,200 employees. In January, the company counted just 15 locations and 750 employees.
Interior design
Interior design describes a group of various yet related projects that involve turning an interior space into an effective setting for the range of human activities are to take place there. An interior designer is someone who conducts such projects...
and home furniture
Furniture
Furniture is the mass noun for the movable objects intended to support various human activities such as seating and sleeping in beds, to hold objects at a convenient height for work using horizontal surfaces above the ground, or to store things...
retailer in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
Founded in 1915 in Fort Myers, Florida
Fort Myers, Florida
Fort Myers is the county seat and commercial center of Lee County, Florida, United States. Its population was 62,298 in the 2010 census, a 29.23 percent increase over the 2000 figure....
as a one-store general merchandise emporium, the company has expanded to 20 showrooms in Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, Arizona
Arizona
Arizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
and Nevada
Nevada
Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
. The company employs approximately 1,300 people. In addition, it has one of the largest in-house custom drapery and flooring departments in America.
Robb & Stucky is noted in its field for its pioneering stances in terms of visual merchandising and “lifestyle” displays, rather than grouping by manufacturer, which is the industry standard.
Bankruptcy and liquidation
A federal court in Tampa on March 8, 2011 approved the sale of the bankrupt Robb & Stucky furniture boutiques to a professional liquidation firm.The Ft. Myers-based upscale furniture store was hard hit after expanding quickly into states that saw some of the worst of the real estate downturn.
On Feb. 18, the 96-year-old company filed Chapter 11 bankruptcy protection, citing debts of more than $50 million. Robb & Stucky officials had entertained offers from other potential buyers at an auction Monday, but ultimately chose the "stalking horse" bid from Hudson Capital and Hyperams. Those liquidators had previously agreed to pay more than $30 million for the company – or about 75 percent of the value of the inventory in its warehouses and showrooms, which is more than $40 million.
The company was unable to find a buyer to get the company back to basics. On March 11, 2011, Robb & Stucky commenced liquidation sales at all remaining stores.
The downfall of the furniture seller parallels the economic downturn and the crash of the real estate market, as fewer people needed new furniture for new homes.
Company sales fell to about $140 million in 2010 from $273 million in 2006. At one point, the company operated 30 locations in Florida, Texas, Arizona, North Carolina and Nevada, and more than 1,200 employees. In January, the company counted just 15 locations and 750 employees.