Secaucus, N.J. Furniture retailer The Door Store said late Friday that it filed for Chapter 11 bankruptcy protection. The filing is under the corporate name Furniture In-Parts Corp.
The chain -- with five N.Y.C. showrooms and four mid-market furniture shops in Long Island and Westchester, N.Y., and New Jersey -- cited poor economic conditions as the reason for the filing.
The company said it has been working to cut its overhead since September 2001, during the last downturn. It said it had been profitable through September 2008, but sales began to dip drastically after that.
Though the Door Store was able to re-negotiate seven of its leases, market conditions still forced the retailer to seek bankruptcy protection from creditors in order to reorganize.
“All of our focus moving forward will be to fulfill customer’s orders and provide the products that our customers have come to expect from Door Store. As for now, it is business as usual, but better,” said the company in a statement.