Doug Fisher

TL – Doug Fisher, Tom Liddell with Planned Furniture Promotions here.  And we would like to have your input, from the heart, what your experience with PFP is.

DF – Well, I had an Ethan Allen store in Wichita, Kansas, and I contacted Roy Hester.  We talked and about two years later, three years later I contacted Roy again and we decided that we were going to liquidate our store in Wichita, Kansas, our Ethan Allen operation there.  And Roy flew in, talked to us and we decided that that was the best thing for us to do, to maximize our return on our inventory and also work with a professional sales staff.  We had Harvey Williams, that conducted our sale, and Harvey is the ultimate professional.  He did a great job, worked seven days a week, he was there all the time, I knew every day where we were with the numbers and the sales, possibility [profitability?] of the sale, and all our costs, and it was truly an easy experience and I really enjoyed working with Harvey and again with PFP in closing out our store in Wichita.  And we had a great success and we had a great auction at the end of the sale and everybody came out a winner.  So, it was a great deal for Kay [?] and myself, and I think it was a good deal for any dealer to look at what PFP can do for them in the future of closing out their business in the most professional fashion that they can.  So…

TL – A quick question.  Can you tell us how the sale performed compared to your original expectations?

DF – Well, the sale, we got about 2-1/2 times our annual volume during our sale.  And the profitability was very good.  We, Harvey was able to maintain a high profit on all of the art goods and the augments to goods and that really helped us paying off our debts and getting out from under the burdens of the financial structure that we had set up.  That’s what I have to say about PFP.

TL – Well that’s great, and thank you so much for taking the time to talk to us.