After 90 years in business, Rothman Furniture & Mattress is calling it quits.
The family-owned chain will begin holding liquidation sales next month at its stores in the St. Louis area.
Competition from larger out-of-town rivals that entered the St. Louis market in recent years is contributing to the closures, Rothman President and CEO Jay Steinback said on Wednesday.
O’Fallon, Missouri-based Rothman, which has about $50 million in sales annually and 240 employees, is profitable, Steinback said, but it’s unable to match the marketing budgets of billion-dollar companies.
The chain’s multimillion-dollar inventory will be sold “at pennies on the dollar,” the company said in a flier mailed to customers this week. The stores will remain open until the inventory is liquidated.