National furniture seller going out of business. Fairview Heights store to close
A Fairview Heights furniture store is closing after more than 30 years in business.
Going-out-of-business sale signs are on display at Value City Furniture, located at 10705 Lincoln Trail. The retailer’s parent company, American Signature Inc., filed for Chapter 11 bankruptcy protection in November.
The city has not been officially notified of the closing or given a closing date for the store, said Dallas Alley, director of land use and economic development for Fairview Heights. City officials also have not been informed of the company’s intentions for the property for the remainder of its lease.
Alley said in a Dec. 31 interview that the fate of the Fairview Heights store depends on what the courts decide regarding the bankruptcy.
On Jan. 9, a release issued by SB360 Capital Partners LLC, stated that its joint venture with Hilco Global and Gordon Brothers, received “bankruptcy court approval to operate Going Out of Business (GOB) sales in all 89 remaining American Signature Inc. stores.”
The remaining stores include 79 Value City Furniture and 10 American Signature locations. The company’s website features the going-out-of-business sale.
On Tuesday, Alley said that in bankruptcy cases like this, the city typically receives a copy of the judge’s order when a business is slated to close and expressed surprise that the city had not yet received one.
Shortly before the bankruptcy filing, American Signature started liquidation sales and announced that 33 of its stores would close. At that time, the Fairview Heights location was not among them.
Value City Furniture opened in Fairview Heights in November 1994 at the former site of Best, which previously was known as Dolgins and opened in 1978.
Store hours for Fairview Heights are currently 11 a.m. to 7 p.m., seven days a week. Pickup hours are 11 a.m. to 6 p.m. Tuesday through Saturday. For more information, call 618-398-7100 or visit shopvcf.com.
