Home Furniture Gallery, a furnishings retailer opened in two former Rosa’s Home Stores locations by members of the Rosa family, is going out of business.
The company recently announced it would close its Town of Tonawanda store at 2880 Sheridan Drive but keep its second store at 3770 Union Road in Cheektowaga open. Thursday night, it announced the Cheektowaga store would close as well.
“That was the original plan according to what we knew at the time,” said David Rosa, chief financial officer. “We had no idea this was going to happen.”
The company vowed to fill all orders previously placed through the company.
“As far as I know, I don’t have any issues with the orders that are on their way to us, and they should be here shortly,” Rosa said.
Going-out-of-business sales will be held at both stores to sell off remaining inventory.
Rosa said he scouted other locations in hopes of moving the store but couldn’t find a desirable property for the right price. The company has a total of 20 employees at both stores and its corporate office.
Both of the stores had been owned by the Rosa brothers’ father, Paul F. Rosa, but were operating under forbearance agreements. When the banks sold the mortgages, new, unfavorable terms were drawn, Paul F. Rosa said. The Sheridan Drive location was sold in lieu of foreclosure. Both mortgages were held by different banks and sold at different times in “two distinct separate situations,” he said.
“Both of these leases were yanked from under Home Furniture Gallery,” Paul F. Rosa said.
“There really were no issues. Home Furniture Gallery was doing business, paying their bills and acting as a normal business,” he said.
David, Paul M. and Anthony Rosa opened Home Furniture Gallery in 2011, less than a year after Rosa’s Home Stores filed bankruptcy. The three Rosa brothers all held positions at the now defunct furniture and appliance retailer before it closed.
email schristmann@buffnews.com
The company recently announced it would close its Town of Tonawanda store at 2880 Sheridan Drive but keep its second store at 3770 Union Road in Cheektowaga open. Thursday night, it announced the Cheektowaga store would close as well.
“That was the original plan according to what we knew at the time,” said David Rosa, chief financial officer. “We had no idea this was going to happen.”
The company vowed to fill all orders previously placed through the company.
“As far as I know, I don’t have any issues with the orders that are on their way to us, and they should be here shortly,” Rosa said.
Going-out-of-business sales will be held at both stores to sell off remaining inventory.
Rosa said he scouted other locations in hopes of moving the store but couldn’t find a desirable property for the right price. The company has a total of 20 employees at both stores and its corporate office.
Both of the stores had been owned by the Rosa brothers’ father, Paul F. Rosa, but were operating under forbearance agreements. When the banks sold the mortgages, new, unfavorable terms were drawn, Paul F. Rosa said. The Sheridan Drive location was sold in lieu of foreclosure. Both mortgages were held by different banks and sold at different times in “two distinct separate situations,” he said.
“Both of these leases were yanked from under Home Furniture Gallery,” Paul F. Rosa said.
“There really were no issues. Home Furniture Gallery was doing business, paying their bills and acting as a normal business,” he said.
David, Paul M. and Anthony Rosa opened Home Furniture Gallery in 2011, less than a year after Rosa’s Home Stores filed bankruptcy. The three Rosa brothers all held positions at the now defunct furniture and appliance retailer before it closed.
email schristmann@buffnews.com