Phillips Furniture, a family-owned and operated company whose roots in the St. Louis region date back to the 1930s, has been sold to the Dufresne Spencer Group, a Memphis, Tenn.-based company. With the Phillips Furniture acquisition, the group now has 34 stores, including 30 Ashley Furniture HomeStores.
Phillips has a namesake store in Kirkwood as well as seven licensed Ashley Furniture HomeStores. Those stores will continue to operate as usual. Phillips Furniture was run by Steve Phillips, his brother, Matthias, and his son, Michael. A Dufresne spokeswoman said the Phillips are all either retiring or moving onto something else.
Phillips Furniture started off as the Phillips Mercantile Company in 1937 with a store in downtown St. Louis across from where Busch Stadium is today. The company employs about 350 people at its stores, warehouse, and administrative offices in south St. Louis County. Earlier this year, Phillips broke into trade publication Furniture Today’s top 100 furniture companies when it was ranked No. 82 with sales of $61.7 million last year.