Value City Furniture’s parent company, American Signature, Inc. (ASI), has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware, the company announced this week. As part of the restructuring, the Value City Furniture location at 12055 Rockville Pike, located in the Montrose Crossing Shopping Center, is slated to close, according to USA Today.
Despite the Chapter 11 filing, ASI says Value City Furniture and American Signature Furniture stores and websites will remain open for now and continue fulfilling customer orders. The Rockville location is among several stores that had already begun store-closing sales prior to the filing and is offering “deep discounts” while inventory remains.
At this time, nearby Value City Furniture stores in Falls Church, VA, and Frederick, MD, are not slated to close, according to the company’s current store-closure listings…