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twitterRetailer bankrupt, Nevada stores remain open
Friday, Jan. 19, 2001 | 11:26 a.m.
HomePlace of America Inc., which filed for Chapter 11 bankruptcy protection Wednesday, said its three Nevada stores will remain open despite closures in other states.
The Myrtle Beach, S.C.-based home furnishings chain said 38 of its 122 stores nationwide will be closed.
The company cited disappointing holiday sales caused by a slowing U.S. economy, problems in implementing a new computer system and an inability to secure financing sources.
But Chris Beseler, HomePlace's spokesman, said the company's stores in Las Vegas, Henderson and Reno, which he said are "profitable stores that generate positive cash flow," will remain open.
He said no job cuts are planned in any of the three stores. There are about 40-45 employees in each store.
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