Linder's Furniture Closing All Stores

Linder's Furniture, a Southern California furniture, mattress and electronics chain that has operated for 31 years, is closing all 11 stores after filing for a bankruptcy alternative earlier this month.

On November 2, Linder's entered into a General Assignment for the Benefit of Creditors under California law. The decision to close its stores, which include a higher-end Legacy Furniture Store, was announced November 15. Inventory valued at more than $20 million will be sold in a process managed by Gordon Brothers LLC and APJL Consulting LLC.

"Despite our best efforts, these turbulent times have left us with no choice but to wind down our operations," said Eric Foucrier, the retailer's president, in a statement. "We believe this decision is in the best interest of our customers, employees and creditors."

For related content: Store Closings to Jump 37.5% in 2012

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