American Signature, Inc., parent of VCF, filed for Bankruptcy. Fallout in 17 states.
ASI Shutdown
The furniture retailer that filed for bankruptcy and is shutting its doors is American Signature Inc. (ASI). ASI is the parent company of two very well-known furniture retailers:
- American Signature Furniture
- Value City Furniture
In total, the company has 120 stores in the 17 states where it operates. Value City is located in more states than American Signature Furniture and has stores in 11 states.
Value City Furniture and American Signature Furniture are household names, and RocketReach reported that Value City Furniture alone had over 1,300 employees and received more than two million web visits.
More details on Yahoo!Finance.
75-Year Company Closes All Stores
Please note ASI Files Voluntary Petitions for Chapter 11 Relief
“For nearly 75 years, American Signature has served as a family-owned furniture destination that communities could rely on to provide style, quality, and value,” said Rudy Morando, Co-Chief Restructuring Officer for ASI. “In the face of the ongoing macroeconomic headwinds that have impacted the entire home furnishing industry, the Company has carefully evaluated its options to assess the best path forward in the current operating environment. Through that review, we determined that entering a court-supervised process will provide the best opportunity to maximize value. We deeply appreciate our team members, customers, and partners and are determined to serve them throughout this process.”
Value City Furniture and American Signature Furniture stores and websites remain open at this time and will continue to fulfill customer orders and provide ongoing customer service to the best of its ability throughout the court-supervised process. Customers can benefit from discounts on a wide selection of home furnishings including living room, dining room, and bedroom collections in addition to decor, lighting, mattresses, and rugs for the holidays. Prior to the chapter 11 filing, certain Value City Furniture and American Signature Furniture stores commenced store closing sales and are offering deep discounts while merchandise lasts. A complete list of Value City Furniture and American Signature Furniture locations can be found at the Store Locator.
Best wishes to all involved.
We Pay the Tariffs Anecdotes, Lost Sales and Going Bankrupt
A reader brought this story to my attention in response to We Pay the Tariffs Anecdotes, Lost Sales and Going Bankrupt
Reader Anecdote: “The furniture tariffs decimated my wife’s employer, VCF, a 75-year furniture chain. Entered Chapter 11 last week. 3,500 about to lose their jobs in January. Ironically, this hits their furniture manufacturers in the Carolinas. It will be a net loss of manufacturing jobs in the end.”
Trump’s tariffs, allegedly designed to bring jobs back to the US, will destroy more jobs than it creates.
This is no surprise. The same applies to steel and aluminum. It’s how tariffs work.
No jobs will return to the US over this nonsense. Tariffs are a net destroyer of jobs while driving up prices in the short term.
Related Posts
February 11, 2025: Trump’s Steel Tariffs Now Will Work as Good as the First Time
Q: How’s that? A: Very poorly.
March 13, 2025: The Amazing “Success” of Trump’s 2018 Aluminum Tariffs in One Picture
I hope you can take a bit of headline sarcasm because the true story follows.
September 6, 2025: Trump’s Aluminum Tariffs Seriously Backfire Already
Tariffs did not and will not bring production back to the US.
October 2, 2025: Trump Seeks a $10 to $14 Billion Farmer Bailout
Tariffs backfired on US agricultural exports.
November 27, 2025: Deere to Take a Big Tariff Tax Hit of $1.2 Billion in Fiscal 2026
Deere flags a bigger hit from tariffs in 2026 than 2025.
ISM Manufacturing Contracts for the 35th Time in 37 Months
Finally, please consider my post from today ISM Manufacturing Contracts for the 35th Time in 37 Months
Here’s a pertinent comment: “We are starting to institute more permanent changes due to the tariff environment. This includes reduction of staff, new guidance to shareholders, and development of additional offshore manufacturing that would have otherwise been for U.S. export.” (Transportation Equipment)
Hoot of the Day: That company is developing more offshore manufacturing and firing US staff, not bringing more manufacturing back to the US.
To repeat: Tariffs did not and will not bring production back to the US. They are a guaranteed job destroyer.
Steel and aluminum explain why. For every steel or aluminum job gain, there are tens-of-thousands of users and buyers of steel and aluminum, all of which lose from tariffs.
So, if you are rooting for more tariffs, you are a brainwashed, tariff-loving economic illiterate (like Trump and Biden) rooting for net job losses. Alternatively, you are someone in the industry spouting economic nonsense for personal gain.
