Your local Value City Furniture could be closing soon as the furniture retailer continues its Chapter 11 bankruptcy proceedings. The closures are part of efforts by Value City’s parent company, American Signature Inc., to reduce costs as it seeks a buyer for the company.
In total, 33 stores are closing nationwide, with Michigan being one of the hardest hit states. Closeout sales are already underway with the stores expected to close permanently in the coming weeks.
The stores closing in Michigan are as follows:
- Ann Arbor — 425 East Eisenhower Parkway
- Clinton Township — 33801 Southbound Gratiot Avenue
- Dearborn — 5701 Mercury Drive
- Lansing — 8748 West Saginaw Highway
- — 50400 Gratiot Avenue
- Novi — 27775 Novi Road
- Portage — 550 Ring Road
The company recently revealed that sales continue to decline and its operating loss has increased by $52 million over the past year. 2025 sales are down by about $150 million compared to 2024…