Levitz Furniture

Levitz Furniture

File:Levitz logo.png
Company type	Private
Industry	Furnishings
Founded	1910 (1910) in Lebanon, Pennsylvania
Founder	Richard Levitz
Defunct	Template:End date and age
Fate	Liquidation
Headquarters	Boca Raton, Florida
Number of locations	80 (2007)
Products	Home Furniture
Website	Official website (Archived on the Wayback Machine (from February 23, 2005)

Levitz Furniture was a prominent American furniture retailer operating across the country, recognized for pioneering the "furniture warehouse" retail format. The company maintained operations for nearly a century before ultimately ceasing business through liquidation in early 2008.

Expansion

Founded in 1910 by Richard Levitz in Lebanon, Pennsylvania, the business was later expanded during the 1960s by his sons, Leon and Ralph. They innovated by promoting moderately priced brand-name furniture sold out of warehouse-style outlets. However, during the 1990s, the company faced challenges as shoppers increasingly favored showroom layouts designed to resemble actual living spaces. Despite these shifts, Levitz continued its growth trajectory in 2005 by acquiring assets from bankrupt retailers Seaman's Furniture and Huffman Koos.

Branding

Levitz became known for its memorable advertising tagline and tune: "You'll love it at Levitz," which was also adapted into Spanish as "Le encantará Levitz," maintaining the same catchy slogan and melody.

Financial difficulties and closure

File:Levitz closing.jpg

Levitz Furniture outlet during liquidation sale, December 2007.

The company experienced managerial difficulties spanning over a decade starting in the 1990s, leading to two separate filings for Chapter 11 bankruptcy protection in 1997 and again in 2005. Each time, Levitz restructured its operations and secured new external investors to continue business.

On December 21, 1998, the firm revealed plans to shutter 27 stores and reduce its workforce by a quarter. Additionally, it scaled back its warehouse network from 65 locations down to just 17.

Following a prolonged downturn in the furniture sector after the early 2000s and further exacerbated by the subprime mortgage crisis of late 2007, Levitz filed for bankruptcy once more in October of that year. At that point, it operated close to eighty stores primarily located along the Northeastern U.S. and West Coast, under PLVTZ LLC. In October 2008, with court approval, the company transitioned from Chapter 11 to Chapter 7 bankruptcy status and initiated liquidation sales.

The bankruptcy estate was acquired by a consortium led by Hilco Merchant Resources, who proceeded with rapid inventory liquidation and store closures nationwide.

On March 19, 2013, Oak Point Partners, a private investment firm specializing in acquiring residual assets from bankrupt entities, purchased any remaining known or unknown assets from PLVTZ Inc., also known as Levitz Furniture Bankruptcy Estate.

See also

• The Room Store
• Breuners Home Furnishings