The End of One is the Beginning of Another
By Daniel Wu
Roomstore, a former furniture company, filed for bankruptcy and was bought by another company named Rooms to Go at a Bankruptcy Court-approved auction in late June. With low income and a tough economy, Roomstore had no other choice, but to file for bankruptcy.
Roomstore has been in business since its doors first opened in 1992, but after 20 years this Goochland County based chain has ended its life. Rooms to Go is very similar to Roomstore because both companies specialize in selling furniture, but Rooms to Go uses different techniques in selling furniture. Sadly, consumers who ordered furniture from Roomstore while they were filing for bankruptcy are not able to immediately receive their furiture from Rooms to Go or receive a refund . Consumers must go through a lengthy process to get their refund.
Many other businesses have been in Roomstore's shoes. Each one of them filing for bankruptcy as they watch their store become empty. Most small businesses when filed for bankruptcy, are not bought by another business, but widely known businesses, like Ukrops, that go bankrupt are usually bought by another company to start a new journey.