212:
to purchase Wickes
Furniture from Master Home. In March 2004, Sun Capital bought out Rooms To Go's interest in Wickes. In March 2004, John Disa was hired as president and CEO of Wickes Furniture by private investment firm Sun Capital Partners. Before he joined Wickes, he spent most of his career in
236:
On
February 14, 2008, it was announced by Richard Clausing, the company's chief financial officer, that Wickes Furniture needed a buyer or an investor by February 25, 2008, to recapitalize the company and to keep from shutting its doors, due to a deadline set by the court and creditors. However,
221:
In May 2007, Wickes
Furniture announced it would close five stores in Minnesota, and a Brooklyn Center distribution center, as part of its plan to focus its resources in expanding into markets in California, Chicago, Portland, and Las Vegas.
174:
in the United States. By the beginning of the 1980s, it had grown into the United States' largest furniture retailer, but it closed nine of its then twenty four stores in 1982 in the wake of the bankruptcy of its corporate parent,
437:
640:
645:
615:
233:
Bankruptcy protection on
February 3, 2008. At that time, Wickes operated thirty eight stores. The company listed debts of more than $ 50 million, and assets of less than $ 50,000.
635:
625:
170:
After its founding in 1971, Wickes
Furniture had grown to 43 showrooms and five distribution centers. The company had over 1,700 employees, making it one of the
630:
237:
neither of them came forward, so Wickes, with bankruptcy court approval, commenced its liquidation sales in March 2008, and closed all of its remaining stores.
620:
230:
283:
201:
in 2000, when Master Home
Furniture defaulted on its bank debt. Master Home Furniture sold one stake of Wickes Furniture in February 1999.
153:
in 2008, and eventually went into liquidation for failure to find a buyer or an investor. At the time of its closing, it was owned by
575:
225:
In mid to the end of 2007, however, the furniture industry was hit hard by the high cost of fuel prices and woes from the
552:
426:"Sun Capital Partners and an Affiliate of Rooms To Go Acquires Wickes Furniture Company". PR Newswire. August 12, 2002.
438:"Sun Capital Partners Affiliate Acquires the Interest in Wickes Furniture Company Held by an Affiliate of Rooms To Go"
459:
306:
226:
333:
258:
503:
475:
361:
205:
182:
After Wickes
Companies was purchased by two investment firms in 1988, Wickes Furniture was sold in a
154:
338:
311:
111:
79:
187:
366:
183:
176:
488:
35:
526:
110:
stores based in
Wheeling, Illinois. The company was founded in 1971 with a showroom in
609:
83:
400:
240:
On
January 1, 2012, Wickes Furniture reopened, and rebranded, as Wyckes Furniture.
198:
209:
186:
led by Wickes
Furniture president, John A. Klein, and the private equity firm
150:
115:
19:
Not to be confused with the home improvement retailer in the United Kingdom,
131:
107:
127:
119:
69:
123:
460:"Wickes Furniture, Samson Marketing Executives To Receive Top Honors"
194:
143:
135:
20:
284:"Wickes Furniture Liquidation Sales Begin This Weekend at 38 Stores"
389:"Bruckmann to buy Wickes Furniture". Daily Deal. February 21, 2002.
139:
103:
149:
The company, despite its expansion into other markets, declared
600:
197:, purchased Wickes Furniture in 1998; the company went into
641:
Companies that filed for Chapter 11 bankruptcy in 2008
504:"Report: Wickes Furniture to close Minnesota stores"
259:"Wickes Furniture begins going-out-of-business sale"
401:"Taiwan Furniture Maker Sells Stake of Wickes Unit"
89:
75:
65:
57:
49:
41:
31:
646:Defunct manufacturing companies based in Illinois
527:"Furniture retailer Wickes files for bankruptcy"
208:teamed with an affiliate of the furniture chain
362:"Wickes Will Sell Furniture Chain, Sources Say"
616:Defunct retail companies of the United States
8:
26:
286:. Home Furnishings Business. February 2008
25:
462:. Furniture World Magazine. July 11, 2007
114:, and at its peak, operated 43 stores in
636:Retail companies disestablished in 2008
553:"Wickes asks court to set auction date"
506:. Minneapolis/St. Paul Business Journal
249:
626:American companies established in 1971
484:
473:
7:
631:Retail companies established in 1971
576:"Court OKs Wickes' liquidation sale"
307:"BOLD PAGE IN BEST PRODUCTS' BOOK"
14:
525:Karen Jacobs (February 4, 2008).
305:Isadore Barmash (June 13, 1982).
574:Lorene Yue (February 29, 2008).
551:Clint Engel (February 6, 2008).
193:Master Home Furniture, based in
621:Defunct furniture manufacturers
257:Lou Hirsh (February 29, 2008).
502:Carissa Wyant (May 15, 2007).
1:
440:. PR Newswire. March 29, 2004
229:. Wickes Furniture filed for
662:
217:Bankruptcy and liquidation
213:athletic shoe businesses.
172:Top 25 Furniture Retailers
18:
334:"Wickes Closes 12 Stores"
16:Defunct American retailer
227:subprime mortgage crisis
483:Cite journal requires
102:was a privately held
601:Sun Capital Partners
263:The Press-Enterprise
206:Sun Capital Partners
155:Sun Capital Partners
28:
578:. Chicago Business
339:The New York Times
312:The New York Times
112:Fridley, Minnesota
80:Wheeling, Illinois
555:. Furniture Today
407:. 4 February 1999
367:Los Angeles Times
184:management buyout
97:
96:
653:
588:
587:
585:
583:
571:
565:
564:
562:
560:
548:
542:
541:
539:
537:
522:
516:
515:
513:
511:
499:
493:
492:
486:
481:
479:
471:
469:
467:
456:
450:
449:
447:
445:
434:
428:
427:
423:
417:
416:
414:
412:
397:
391:
390:
386:
380:
379:
377:
375:
358:
352:
351:
349:
347:
330:
324:
323:
321:
319:
302:
296:
295:
293:
291:
280:
274:
273:
271:
269:
254:
204:In August 2002,
190:in April 1989.
177:Wickes Companies
100:Wickes Furniture
29:
27:Wickes Furniture
661:
660:
656:
655:
654:
652:
651:
650:
606:
605:
597:
592:
591:
581:
579:
573:
572:
568:
558:
556:
550:
549:
545:
535:
533:
524:
523:
519:
509:
507:
501:
500:
496:
482:
472:
465:
463:
458:
457:
453:
443:
441:
436:
435:
431:
425:
424:
420:
410:
408:
399:
398:
394:
388:
387:
383:
373:
371:
370:. April 4, 1989
360:
359:
355:
345:
343:
332:
331:
327:
317:
315:
304:
303:
299:
289:
287:
282:
281:
277:
267:
265:
256:
255:
251:
246:
219:
188:Kelso & Co.
168:
163:
36:Private company
24:
17:
12:
11:
5:
659:
657:
649:
648:
643:
638:
633:
628:
623:
618:
608:
607:
604:
603:
596:
595:External links
593:
590:
589:
566:
543:
517:
494:
485:|journal=
451:
429:
418:
392:
381:
353:
325:
297:
275:
248:
247:
245:
242:
218:
215:
167:
164:
162:
159:
95:
94:
93:Home Furniture
91:
87:
86:
77:
73:
72:
67:
63:
62:
59:
55:
54:
51:
47:
46:
43:
39:
38:
33:
15:
13:
10:
9:
6:
4:
3:
2:
658:
647:
644:
642:
639:
637:
634:
632:
629:
627:
624:
622:
619:
617:
614:
613:
611:
602:
599:
598:
594:
577:
570:
567:
554:
547:
544:
532:
528:
521:
518:
505:
498:
495:
490:
477:
461:
455:
452:
439:
433:
430:
422:
419:
406:
402:
396:
393:
385:
382:
369:
368:
363:
357:
354:
342:. May 6, 1982
341:
340:
335:
329:
326:
314:
313:
308:
301:
298:
285:
279:
276:
264:
260:
253:
250:
243:
241:
238:
234:
232:
228:
223:
216:
214:
211:
207:
202:
200:
196:
191:
189:
185:
180:
178:
173:
165:
160:
158:
156:
152:
147:
145:
141:
137:
133:
129:
125:
121:
117:
113:
109:
105:
101:
92:
88:
85:
81:
78:
74:
71:
68:
64:
60:
56:
52:
48:
44:
40:
37:
34:
30:
22:
580:. Retrieved
569:
557:. Retrieved
546:
534:. Retrieved
530:
520:
508:. Retrieved
497:
476:cite journal
464:. Retrieved
454:
442:. Retrieved
432:
421:
409:. Retrieved
404:
395:
384:
372:. Retrieved
365:
356:
344:. Retrieved
337:
328:
316:. Retrieved
310:
300:
288:. Retrieved
278:
266:. Retrieved
262:
252:
239:
235:
224:
220:
203:
199:receivership
192:
181:
171:
169:
148:
99:
98:
76:Headquarters
32:Company type
582:December 2,
559:December 2,
536:December 2,
510:December 2,
466:December 2,
444:November 7,
405:www.wsj.com
374:November 7,
346:November 7,
318:November 7,
290:December 2,
268:December 2,
210:Rooms To Go
45:Furnishings
610:Categories
244:References
231:Chapter 11
151:bankruptcy
116:California
132:Minnesota
108:furniture
128:Michigan
120:Illinois
90:Products
70:Bankrupt
42:Industry
531:Reuters
411:18 June
161:History
124:Indiana
58:Defunct
50:Founded
195:Taiwan
166:Growth
144:Oregon
136:Nevada
21:Wickes
140:Texas
104:chain
584:2010
561:2010
538:2010
512:2010
489:help
468:2010
446:2013
413:2020
376:2013
348:2013
320:2013
292:2010
270:2010
142:and
84:U.S.
66:Fate
61:2008
53:1971
179:.
146:.
106:of
612::
529:.
480::
478:}}
474:{{
403:.
364:.
336:.
309:.
261:.
157:.
138:,
134:,
130:,
126:,
122:,
118:,
82:,
586:.
563:.
540:.
514:.
491:)
487:(
470:.
448:.
415:.
378:.
350:.
322:.
294:.
272:.
23:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.