Heilig-Meyers

Heilig-Meyers

File:Heilig-Meyers logo.JPG
Company type	Private
Industry	Retail
Founded	1913
Defunct	2001 (restructured as RoomStore in 2005)
Fate	Chapter 11 bankruptcy
Headquarters	Richmond, Virginia
Products	Furniture, bedding, small appliances, consumer electronics, jewelry, and seasonal merchandise.

Heilig-Meyers was a furniture retail chain established in Goldsboro, North Carolina in 1913 by Lithuanian immigrants W. A. Heilig and J. M. Meyers. The company’s headquarters were located in Richmond, Virginia. By the 1990s, it had expanded to become the largest furniture retailer across the United States, operating more than 1,000 outlets nationwide, including locations in Puerto Rico.Template:Fix/category

The chain’s downfall was partly due to aggressive expansion efforts, such as acquiring over 100 McMahan's Furniture stores headquartered in Carlsbad, California in 1993, along with other Western-based chains. Additionally, Heilig-Meyers purchased the L. Fish furniture stores around the Chicago area, which were ultimately shuttered by 1999.

On August 17, 2000, Heilig-Meyers filed for protection under Chapter 11 bankruptcy and soon after announced plans to liquidate its inventory, leading to the closure of all stores by mid-2001. According to the Richmond Times-Dispatch in 2000, the company's failure stemmed from an unsuccessful rapid expansion that failed to generate adequate revenue and from customers shifting away from the company’s proprietary credit system toward general credit cards. Furthermore, the clientele relying on Heilig-Meyers’ credit offerings had become dissatisfied with declining product quality. By year-end, all outlets had ceased operations except those branded under RoomStore, which continued functioning. In 2005, RoomStore—the sole surviving segment of Heilig-Meyers—emerged from Chapter 11 bankruptcy after securing $35 million (~$Template:Format price adjusted for inflation) to settle its obligations; however, RoomStore itself was liquidated seven years later.

Heilig-Meyers also sponsored several NASCAR Winston Cup drivers including Bobby Hillin Jr., Dick Trickle, and Mike Wallace. It was among the final furniture retailers to offer in-house financing for customer accounts. The last individual to serve as CEO and President was Bill DeRusha.

File:DickTrickleHeiligMeyersCupcar.jpg

Heilig-Meyers-sponsored Winston Cup vehicle