02.12.2025 08:45
In the United States, the deepening retail crisis in 2025 has led to the vacancy of hundreds of millions of square feet of store space, prompting the 77-year-old furniture giant American Signature Inc. to file for bankruptcy and decide to close some of its stores.
As the retail sector in the U.S. enters a major crisis in 2025, store closures have reached record levels nationwide. According to Coresight Research data, retailers have had to vacate a total of 120 million square feet of retail space throughout the year due to bankruptcies and mass closures.
COULD NOT WITHSTAND 77-YEAR-OLD GIANT CRISIS
Among the closed stores are well-established brands known for their reliability over the years. One of them, 77-year-old American Signature Inc. (ASI), announced that it would close some of its stores in 17 states where it operates and filed for bankruptcy protection.
MANAGED 120 STORES
According to information shared by Patronlar Dünyası, ASI is the parent company of the American Signature Furniture and Value City Furniture brands. The company operated a total of 120 stores across the U.S.
According to data from ScrapeHero, while ASI's number of stores falls behind industry giants like La-Z-Boy with 2,571 stores or Mattress Firm with 2,373 stores, Value City Furniture and American Signature Furniture are still among the brands preferred by a wide customer base.
WIDE CUSTOMER BASE AND HIGH TRAFFIC
RocketReach data reveals that Value City Furniture alone has more than 1,300 employees and that the brand's website receives over 2 million visits annually.
COMPANY IS NOT CLOSING: GOAL IS RESTRUCTURING
Instead of completely shutting down, the company plans to turn the bankruptcy process into an opportunity for restructuring. According to court records, ASI aims to transfer its assets to a company called ASI Purchaser LLC, which made a confidential bid, in order to transition to a model where it can continue its operations.