47-year-old furniture chain in Chapter 11 bankruptcy liquidating

A 47-year-old furniture chain is facing significant challenges as it enters Chapter 11 bankruptcy and seeks permission from the bankruptcy court to liquidate and close dozens of its stores. This situation highlights the ongoing struggles within the retail sector, particularly for established brands that are unable to adapt to changing consumer preferences and economic pressures. The closure of these stores could lead to job losses and impact local economies, making this a critical development to watch.