Name: Art Van Closing All Stores
Uploaded: 2020-03-09T17:53:44.000Z
Duration: 2 min 19 s
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They've been in the furniture and mattress business since 1959 its initial roots in Detroit's eventually branching throughout the Midwest.

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But now art fan furniture is going out of business, and analysts say there are several reasons why likely they expanded too fast is what it appears from the outside that they had to spend a lot of money to add in a lot of extra stores and be very aggressive about that.

Those stories didn't have the return they thought they would.

That expansion, along with sales of furniture continuing to shift online, people buying less and less furniture with renting, going up and the quality of furniture increasing the expansion could not hold up to these changes.

Eiseley says the store's closing is not all bad news to the local economy.

The good news is, is we're in a very strong economy right now.

It's weakening, but we're in a strong enough economy that that most people will find a job and we have competitors across the Midwest, so there's a good chance that that retail will remain in the Midwest as opposed to transferring all online in a statement sent to all employees and Fox 17 Art Van said in part quote.

We recognized the extraordinary retail community and philanthropic legacy that art Van Furniture has built for decades in the community.

On behalf of the company, we want to offer our sincere appreciation to our employees for their dedication, commitment and hard work unquote.

Typically, Cos try to sell off unprofitable stores before closing them all.

But Isay says this might not have been possible.

Well, they were already smaller 100 what 50 stores something like that part of it's the type of retail they're in.

So it's hard to shift that that product around the stores that are still there.

And certainly as you watch the reports over the last two weeks, they were trying to create a deal where they would shrink.

Obviously, that must have fallen apart, or it might be resurrected as they moved through the liquidation.

 Even with their large footprint in the state, Eiseley says the overall economy should remain strong. 