Value City Furniture will close its 9110 W. Broad St. store in Tuckernuck Plaza, western Henrico, in early January as part of American Signature's Chapter 11 bankruptcy restructuring. The closure leaves the retailer with only one regional location at 1250 Huguenot Road in Midlothian, which remains unaffected.
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The Henrico store is among roughly 30 Value City and American Signature outlets across multiple states slated for closure. Liquidation sales are already underway at the affected locations. Value City has operated in the nearly 63,000-square-foot Broad Street space for years, which has seen other large tenants exit recently, including Party City and Sam Ash. Some spaces have been re-leased, such as Sam Ash's former location now occupied by thrift store chain Savers.
American Signature cited industry-wide economic challenges, including reduced foot traffic, inventory-demand mismatches, inflation, tariffs, rising interest rates, and competition from comparable retailers, as reasons for its restructuring. Rudy Morando, co-chief restructuring officer, said the company "carefully evaluated its options to assess the best path forward in the current operating environment."
The closure reflects broader pressures on the home furnishings sector as companies adapt to changing market conditions and consumer behaviour.
Source: www.richmondbizsense.com
