The Beavercreek Sofa Express store at North Fairfield and New Germany Trebein Rd is in the final week of it’s going out of business sale. In 7 days the store’s doors will close forever.

On December 6, 2007 Sofa Express, Inc. filed for bankruptcy with the United States Bankruptcy Court, Middle District of Tennessee and announced plans to close stores and liquidate their assets.

Going… Going… Soon to be Gone. Sofa Express Closing.
The Beavercreek Sofa Express store in it’s final week of operation. Photo © Barhorst

According to court documents the company had experienced steep declining sales over the past three years. In 2005 net sales were $233,838,874, in 2006 they dropped to $211,001,012 and, most recently, in 2007 net sales were $146,995,820.

According to the company’s schedule of assets and liabilities, the company had real assets of $29,630,509 and scheduled liabilities of $65,620,603 at the time of filing. Those numbers may change as the bankruptcy case progresses.

Sofa Express was founded in 1959 in Columbus, Ohio. In 2002, the company was acquired by Klaussner Furniture Industries. In the following years, the company grew to over 60 stores across the country. In 2005, Sofa Express attempted to reinvent itself as Sofa Express and More. The company expanded it’s product assortment and added bedroom and dining room furniture.

In 2007, Sofa Express and More said it had more than 1,500 employees. That same year, the company was listed as 36th in the Top 100 furniture stores in the U.S. with stores in Ohio, Indiana, Kentucky, North Carolina, South Carolina, Tennessee, Georgia, Florida, and Nevada.

Source: Sofa Express, Inc., US Bankruptcy Court, Middle District of Tennessee.     BR20080122-01