Dekor closes stores; awaits resolution
September 24, 2001-- Home Textiles Today,
After debuting nine months ago, Dekor shuttered its remaining three stores last week, with its future uncertain.
"We opened in January with an unparalleled customer focus that was working," said Herb Biggers, president and co-founder. "However, this is a capital-intensive business. Unfortunately, we ran out of money and time to make it work."
Jim Inglis, ceo and co-founder, emphasized that the retailer is not in bankruptcy. The company anticipates a resolution within a week as to the status of its operations.
"We had meetings and will continue to meet" to discuss the next step, Inglis told HTT. There was a "cash flow problem," he said, and in looking at the back half of the year, they determined that it would not improve, and that "it would be best for the employees, customers and investors to shut the stores down," Inglis said.
Dekor had a difficult summer, laying off 20 percent of its workforce and closing one store in June. The recently closed GA locations are in Buckhead, Fayetteville and the Mall of Georgia.
"While this is a sad moment for us at Dekor, we appreciate our customers and those who have supported us since we opened," Inglis said. "Remaining true to our customer-service business model, we are considering our customers first as we make critical business decisions for the future of our operations."
Dekor has reached an agreement with a group of European investors to cover customer deposits and open projects.
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