Farmington Hills-based Gorman’s Home Furnishings & Interior Design announced it is closing its Grand Rapids showroom.
Gorman’s President and CEO Tom Lias said the closing is due to a lease issue. The company’s real estate is mostly owned, and the company is reviewing its current leases with scrutiny.
“During the last few years, it has become very apparent to us we should focus on fewer, better-positioned, company-owned properties for our business,” Lias said. “Gorman’s is debt-free with cash reserves and a substantial credit line. Our recent moves have been made so we can be prepared to take advantage of opportunities that we are certain will arise from these very unusual and trying times. We are an especially strong organization and expect to be around to serve our customers for years to come.”
The 40,000-square-foot Grand Rapids store at 2320 28th St. SE will launch a more than $5 million in inventory sale immediately. Discount pricing is expected to range from 40% to 75% off retail pricing. A final auction of merchandise is expected to follow, concluding with the store’s permanent closing in December.
The liquidation sale includes top brand names in fine home furnishings and accessories, including Bernhardt, Caracole, Century, Lexington and Natuzzi, as well as furnishings for living, dining and family rooms, bedrooms and home offices.
The metro Detroit market has recently been vacated by multiple larger players in the furniture and home goods sector, creating an even greater opportunity closer to home for the Farmington Hills company.
Once the Grand Rapids location is closed, Gorman’s is setting its sights on a fourth Detroit-owned location. That new showroom will be in addition to its three-day clearance center and warehouse in Farmington Hills and showrooms in Troy, Novi and Southfield.