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Levitz Furniture Store Closing Sales Start This Weekend; 5 Stores in Florida, 3 in Indiana, 2 in Missouri, 3 in California

COLUMBUS, Ohio, July 16 /PRNewswire/ -- As announced earlier, Levitz Furniture Inc., one of the nation's largest specialty furniture retailers, is permanently closing 13 stores in four states as part of the company's reorganization. Special bankruptcy court authorized store closing sales at these locations will start this weekend, July 18, 1998, at five stores in Florida, three in Colorado, two in Missouri, and three in California. The remaining 116 on-going Levitz warehouse-showrooms and satellite stores in 26 states will remain open and operate as usual.

Discounts will be given on all categories of merchandise in the closing stores and the sales will continue until all merchandise is sold. The stores' complete line of brand name living room, bedroom, dining room and kitchen furniture and accessories will be discounted.

Schottenstein Bernstein Capital Group, LLC, and Gordon Brothers Retail Partners, LLC, have been appointed by the US Bankruptcy Court as joint venture partners to manage the sales. In addition, the Sales Management Group of Denver will add years of furniture liquidation experience to this massive sale.

Levitz, a leading specialty furniture retailer in the United States with a chain of warehouses, showrooms and satellite stores located in major metropolitan areas, has been operating under bankruptcy protection since September, 1997.

Editor's Note: A list of all the closing locations follows.
 LEVITZ FURNITURE
 "Sale on Everything"/"Store Closing Sale"
 Store List
 Store City State Zip
 Chula Vista Chula Vista CA 91911
 San Diego San Diego CA 92110
 San Marcos San Marcos CA 92069
 Denver Denver CO 80237
 Lakewood Lakewood CO 80215
 Clearwater Clearwater FL 34624
 New Port Richey New Port Richey FL 34652
 Orlando Orlando FL 32808
 Tampa Tampa FL 33611
 Winter Park Winter Park FL 32792
 Colorado Springs Colorado Spring MO 60918
 Hazelwood Hazelwood MO 63042
 Manchester Manchester MO 63021


SOURCE Levitz Furniture Inc.
 -0- 07/16/98


/CONTACT: Elizabeth Wicks, 617-422-6299, for Gordon Brothers; or Roanne Kulakoff, or James Fingeroth of Kekst and Company, 212-521-4800, for Schottenstein Bernstein; or Sheila Renken, 561-994-5154, for Levitz/

CO: Levitz Furniture Inc.; Schottenstein Bernstein Capital Group, LLC; Gordon

Brothers Retail Partners, LLC ST: Ohio, Florida, Indiana, Missouri, California IN: REA FIN HOU SU:

SK -- NYTH048 -- 9816 07/16/98 10:31 EDT http://www.prnewswire.com
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Publication:PR Newswire
Date:Jul 16, 1998
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