Storehouse Furniture has been sold to a buyout firm that will liquidate the retailer’s operations and shut down its 70 stories, including two in the Triangle.


Storehouse’s parent, McLean, Va.-based The Rowe Cos., which filed for Chapter 11 bankruptcy protection last month, had said it planned to sell the Storehouse chain as part of a reorganization that will allow Rose to concentrate solely on furniture manufacturing.

Hudson Capital Partners, a buyout firm that specializes in retail dispositions, was the only bidder for the Storehouse chain, according to the trade publication Furniture Today. Hudson began liquidating Storehouse’s remaining inventory Friday. The new owner says it will close all Storehouse locations after the inventory is sold – a process that is expected to take several weeks.

Storehouse has operations in the North Hills shopping center in Raleigh and off South Estes Drive in Chapel Hill.

“The Storehouse liquidation sale was ordered following exhaustive efforts to sell the chain or obtain fresh equity, which proved unsuccessful,” Hudson Capital Partners co-founder Jim Schaye said in a statement.

The inventory to be sold is worth about $60 million.

Storehouse has 70 locations, mostly on the East Coast, including six in North Carolina.