Regional home goods chain’s bankruptcy leaves vendors holding the bag

Louetta R. Clark

[ad_1]

Altmeyer Home Stores filed for Chapter 7 bankruptcy on July 11.

Uniontown, Pa. – Its most recent new store relocation took place just months ago. And now, after more than eight decades, the end has come.

Altmeyer Home Stores filed for Chapter 7 on July 11 in the Bankruptcy Court for the Western District of Pennsylvania and will liquidate. In its filing, the 81-year-old, family-owned business operated 11 stores focused on bedding, window, kitchen accessories and rugs.  Several stores closed immediately, according to a report in the Tribune-Democrat newspaper in Johnstown, Pa. The retailer’s web site, bedbathhome.com, is still up but inoperable.

Altmeyer’s online site is still live but inoperable.

After any administrative expenses are paid, no funds will be available to unsecured creditors, the 11-unit retailer noted in its bankruptcy filing.

Rather than a ranking of top creditors listed by amount of money owed, the filing identified creditors to be notified of the bankruptcy.

CIT Commercial Services, the factoring firm, appears on behalf of Kassatex, Lintex Linens/Cobra Trading and Stylemaster. Milberg Factors appears on behalf of Arlee, Garland Carpet & Rugs and Lichtenburg.

MORE

Altmeyer’s celebrates 75 years

Rod Altmeyer Sr., 87

Additional supplier creditors include:

A.C. Ellis/Ellis Curtain

A-Line Greetings

Achim Importing Co.

Adorable Pillows Mfg.

Beatrice Home Fashions

Bed Bath Fashions Inc.

Better Home Plastics Corp.

Biddeford Blankets

Broder Mfg.

Candle Warmers

Carnation Home Fashions

Carson Home Accents

Commonwealth Home Fashions

Commonwealth Soap & Toiletries

Creatively Designed Products

Designer Greetings

Direct International Inc.

Empire Candle Company

Heritage Lace

Highland Woodcrafters (Counter Art)

Irvine’s Tinware

John Ritzenthaler Co.

Kay Dee Designs

Kenney Manufacturing Co.

Klear-Vu Corporation

Lafayette Interior Fashions

Marco International

Mayrich Company

Maytex Mills

Mohawk Factoring/Mohwak Industries

Ontel Products Corporation

Popular Bath Products

Ralph Friedland & Bros./Friedland Shades

Regent Products Corp.

Ricardo Trading

Riviera Textile Corp.

Rosenthal & Rosenthal Inc. – Telebrands

Safdie International

Saturday Knight Ltd.

Special T Imports

Springs Window Fashions

The Naked Bee

Versailles Home Fashions

The creditors’ list also included real estate firms, local utilities, financial services and other third-party contractors.

Altmeyer’s

The assortment at Altmeyer was focused on key home categories.

The company estimated its liabilities at between $100,000 and $500,000. President Robert C. Altmeyer – the fourth generation to head the business – told the Pittsburgh Gazette that online competition, sourcing problems and inflation were too much to overcome.

“It is with extreme sadness and disappointment that Altmeyer’s has been forced to liquidate its operations after serving as a reliable source of linens and home goods to several western Pennsylvania communities over the past eight decades,” he said in a statement.

 

 



[ad_2]

Source link

Next Post

What Are the Benefits of a Metal Roof?

[ad_1] Selecting the substance for your new roof is a single of the most vital conclusions you can make. A new roof is a large and thrilling home improvement task, but as the indicating goes: if you fall short to program, you strategy to fall short. Picking the ideal roof […]