National Home Centers, the Springdale, Ark., dealer that entered into Chapter 11 reorganization last December, contracted a consulting firm to help conduct a "store closing sale" at three of its locations.
According to a debtor's emergency motion filed in U.S. Bankruptcy Court in Fayetteville, Ark., Great American Group LLC was to help conduct the sales at National Home Center's locations in Bentonville, Clarksville, and Little Rock between Jan. 31 and March 31. Following the sales and store closings, National Home Centers will operate five locations compared to the nine locations it operated as of June 2009. It had closed another location late last year.
The dealer has cited the slumping housing and construction market as reason for its financial woes. The going out of business sale is expected to benefit creditors, National Home Centers said. The company ranked 26th on the 2009 ProSales 100 listing with total 2008 sales of $145 million.