LA furniture chain Dearden’s will close its doors
“Another One Bites the Dust” seems to be the retail theme song these days.
Furniture chain Dearden’s announced Thursday that it will shutter its eight stores throughout Southern California, as well as its warehouse in Rancho Cucamonga, as it winds down its operations entirely.
The Downtown Los Angeles-based chain was founded in 1909 and is said to be one of Southern California’s oldest businesses, the Los Angeles Times reported.
It has locations in Downtown L.A., Commerce, Huntington Park, La Puente, Chino, Anaheim, Santa Ana and Van Nuys.
The stores are expected to close by early August, displacing 420 employees, according to the L.A. Times.
Ronny Bensimon, Dearden’s CEO, cited mounting competition from online retailers like Amazon as a driving factor to its closure.
“Like other retailers, we fell victim to changing consumer trends,” Bensimon said in a statement. “And although we tried to fight it, closing our business became our only recourse.”
The announcement follows on the heels of fashion label Michael Kors announcing its plan to shutter up to 125 stores. [LAT] — Subrina Hudson