Boyles Furniture is GONE

[drcollie]

Didn't survive bankruptcy, the owner - Larry Hendricks - opened up new stores in Florida right before the Recession that hit, so sales didn't materialize and that dragged down the remaining stores too much and that was the end of them. Looking at a trade magazine that came in the mail today, their sales were off - 70.6% from 2008 to 2009 as they went from 12 stores to 4. That's huge. Wonder what they're going to do with that massive store coming into High Point across the highway from Furnitureland South?

Another big loser in 2009 was Ethan Allen, down - 35.7% for 2009 according to FURNITURE TODAY.

The top furniture store operator in the USA was up 1.7% for 2009, Ashley Furniture Homestores operating over 400 locations.

My little store (I don't make the magazines!) was up 52% for 2009. <g>

[Us+2 ferts&theDog]

Atta boy, Duane!! It just goes to show what good business practices are able to accomplish in a poor economy, and the fact you didn't overextend yourself.

I certainly wish more business(wo)men operated as you successfully do.

Tammy

[cuse69]

Boyles was a good operation as the big NC operations go. I made a number of purchases from them including my first H&M sofa. I'm sorry to see another brick and mortar shop close. Along with the recession and the hit the furniture industry has taken is the emergence of more internet buying. I would guess that The Keeping Room's success in 2009 in a large part was due to an increased customer base through the internet. This added exposure coupled with sound business practices and excellent customer service spells success. Congratulations Duane and best wishes for continued success.

Larry

[Riddle]

I hate to see businesses fail. I'm delighted that your sales are up!

[drcollie]

OK, i may have to back-up on my post saying 'Boyles is Gone'. I got that information from two very reliable suppliers, but have been told by a delivery company that carries freight for them that they are still functioning. So they may not be quite dead yet, but certainly appear to be on Life Support at best.

I have GOT to stop listening to gossipy sales reps!

[southbayed]

Boyles going away Duane? I know that many of our CA customers have stopped talking about them since they can no longer avoid the sales tax by buying from them. As far as Ashely goes... no big surprise since they top the charts every single year (if i'm not mistaken they do over a billion dollars annually?). I guess "Cash & Carry" crap still has its place in the furniture world.

[cuse69]

Boyles sent me an e-mail today indicating they were pulling the plug on all stores. They have announced a final business closing sale to their prior customers.

[drcollie]

Boyles is dead officially as of Jan 5th 2011. There's an absolutely gorgeous building they have across the street from Furnitureland South in High Point NC if anyone wants a multi-million dollar showroom.

The kiss of death in the furniture business is over-expansion and big real estate obligations. Almost every furniture store that has gone under is because of that. Customers ask to see more and more samples on the floor - and its easy to get caught up in the 'what ifs' of a shiny new store. Project out the sales and keep your fingers crossed. When the sales don't come at the projected rate however, that's the end of the business.

And that is exactly why I'm in my old 5,000 s.f. store in the 'wrong part of town' that I would love to upgrade, but won't unless I could afford to pay cash out of reserves. A very wise man who owns several furniture manufacturing companies in North Carolina told me to never let the real estate take control of your business with dreams of what could be...and I listened. Boyles did not.

[Lefty]

I visited the store in Jamestown about a month ago and the liquidators were in the store with the last pieces of furniture...the guy overseeing the liquidation of that store told me the owner had built a 26 million dollar home on Lake Norman and didn't have the resources left to sustain the business through the recession...

[drcollie]

My understanding of Boyle's demise was that the principle owner moved to Florida and attempted to open one or more stores in Florida and the Recession hit just after his multi-million dollar expansion build. That misjudgment cost them the business.