JAMESTOWN – The Crawford Furniture company began its liquidation sale yesterday at its warehouse at 1021 Allen St. in Jamestown, marking what many feel is the end of an era.
The liquidation sale started at noon, with thousands of hardwood furniture pieces at 40 percent off wholesale prices. The sale will continue today and tomorrow, with an additional five percent being removed from prices each day until items are 75 percent off. The dock sale is scheduled to run from noon to 8 p.m. for eight days, ending Thursday, April 19. It then will publicly auction “substantially all” of its property, including five pieces of commercial real estate, intellectual property, leftover inventory, and various other materials, machinery and equipment at 10 a.m. April 21 and 24.
Crawford Furniture received approval last month from a U.S. Bankruptcy Court Chief Judge to hire Blackbird Asset Services LLC to liquidate its remaining possessions. In its court filing, Crawford said it lacks the funds required to satisfy its operating expenses and cannot reorganize its financial affairs.
The company filed for Chapter 11 bankruptcy protection in August of 2011, seeking to reorganize, close its retail stores and refocus its business on producing quality furniture for sale through other retailers. From Oct. 6, 2011, through Jan. 30, the company sold goods only to its own stores for their going-out-of-business sales.
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