Clint Engel — Furniture Today,
ALEXANDRIA, Va. — The U.S. Bankruptcy Court here is expected to rule today on the liquidation of Storehouse, the 70-store retail subsidiary of


The Rowe Cos., which appears to have failed in last-ditch efforts to find a buyer that would keep the Top 100 chain in business.

The stalking horse bidder, liquidator Hudson Capital Partners, was the only party to make a formal offer. It was expecting approval of its bid at a hearing today.

If the bid is approved, Hudson would begin liquidation sales at all stores Friday, and should be competed no later than Dec. 31, said A.R. Williams, chief financial officer for Hudson in Ridgeland, Miss.

Storehouse filed for Chapter 11 bankruptcy Sept. 18 along with parent The Rowe Cos. and sister company, upholstery manufacturer Rowe Furniture.

According to bankruptcy court documents, Hudson will pay 85.16% of the cost value of Storehouse’s inventory, estimated to be between $19 million and $24.6 million.

Williams wouldn’t say how much he expects the sales to generate and said the company hasn’t decided yet whether to augment the inventory with additional goods.

Caroline Hipple, president of t