Planned Furniture Promotions approved to liquidate Rosa’s Home Stores

Planned Furniture Promotions approved to liquidate Rosa’s Home Stores

ROSA’S HOME STORE TO LIQUIDATE NEW YORK LOCATIONS


Planned Furniture Promotions Honors Customer Deposits

 Buffalo, NY, December 23, 2010 –-  Rosa’s Home Store, a leading home furnishings appliance and electronics retailer operating four stores in Western New York since 1981, filed for Chapter 11 Bankruptcy protection on December 9, 2010 in the United States Bankruptcy Court for the Western District of New York.  As a result of Tuesday’s bankruptcy hearing, the company will begin Going-Out-Of-Business/Bankruptcy Liquidation sales managed by the foremost furniture event company, Planned Furniture Promotions, Inc.

All customer deposits made prior to the Chapter 11 filing will be honored. “This was the most important aspect of the bankruptcy filing”, said Dean Rallo, president, Rosa Home Store. “Rosa’s didn’t want this bankruptcy to negatively impact our loyal customers, so we worked very closely with our legal team and the bankruptcy court to put our customers first.” Store customers with open orders will receive instructions for completing their orders.   

 “We’re proud to have been chosen by Rosa’s, an institution in the community, to assist the company in this difficult time,” said Tom Liddell, senior vice president of Planned Furniture Promotions. “We look forward to assisting Rosa’s complete the many customer orders that were placed prior to the Bankruptcy filing and conducting a sale that  will benefit the company, its vendors and creditors, and many local customers.”

Rosa’s Home Store operates three locations in Buffalo and one store in Niagara Falls, a region of the country that has been in economic decline for three decades.    The stores will be closed for a short period, to complete an inventory and prepare for the liquidation, followed by the public sale early next year.

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