– The retail landscape across the Commonwealth is undergoing a seismic shift as 2026 begins. From the bustling streets of Northern Virginia to the historic NEON District in Norfolk, several long-standing institutions are dimming their lights for the last time. A combination of corporate bankruptcies and well-earned retirements is ending decades of Virginia business history.
The National Giant: Value City and American Signature Exit Virginia
Following the sweeping Chapter 11 bankruptcy filing by Ohio-based American Signature Inc. (ASI) in late 2025, the company has confirmed the total liquidation of its physical footprint. This includes seven prominent locations across Virginia that served as go-to destinations for affordable home furnishings.
Liquidation sales officially launched in early January 2026, with deep discounts intended to clear all remaining inventory. However, the process has been fraught with challenges for local shoppers. Many Virginians have reported issues with unfulfilled orders and non-refundable deposits, as the bankruptcy court prioritizes debt recovery over individual customer service.
Affected Virginia Locations:
- Chesapeake: Portsmouth Blvd and Greenbrier Pkwy
- Chesterfield County: Huguenot Road
- Fredericksburg: Carl D. Silver Pkwy
- Fairfax County: Leesburg Pike (Falls Church)
- Virginia Beach: North Mall Drive
- Prince William County: Prince William Pkwy (Woodbridge)
All sales at these locations are now deemed final, marking the end of ASI’s 80-year run in the regional market.
A Local Legacy: Virginia Furniture Company Retires After 86 Years
While corporate struggles took down the national chains, a different story unfolded in Norfolk. The Virginia Furniture Company, a locally-owned pillar of the community since 1939, officially closed its doors on Granby Street…