The furniture and home furnishings sector has faced a downturn over the last two years that has resulted in sales declining by 0.82% in 2025 compared to 2024 adjusted, according to the CNBC/National Retail Federation Retail Monitor.
Furniture and home furnishings sales continued to decline by 0.31% in January 2026, month-over-month seasonally, the report said.
An epidemic of furniture store closings has spread across the nation, but often, the reason retailers have given for shutting down their stores has not been financial distress.
Many independent furniture chains and stores have aging ownership, and the time has come for many of these owners to close their businesses for the final time and retire.
Several of the furniture businesses closing have been multi-generational owners that have operated for decades. That’s the case with Greenbaum Home Furnishings, which has been family-owned since 1959.
The iconic 67-year-old furniture store liquidates its merchandise and closes down.
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Greenbaum Home Furnishings closes
Greenbaum Home Furnishings, which at one time operated four stores and a warehouse in Washington, announced on its Facebook page that it will close its last remaining store in Bellevue, Wash., after conducting a final retirement sale.
“Retirement sale – After 67 years, we’re ready to close the business and sell off our entire inventory!” the company wrote in a March 27 Facebook post. “Shop early for the best selection because when it’s gone, it’s GONE!”
The 67-year-old furniture retailer once operated stores in Bellevue, Tukwila, Tacoma, and Lynnwood, Wash., and a warehouse/service center in Woodinville, Wash.
Furniture chain shut 3 stores in 1995
Greenbaum closed its stores in Tukwila, Tacoma, and Lynnville, and laid off about half of its 93 employees in November 1995, according to the Seattle Times. The company continued operating the Bellevue store and the warehouse/service center for the last 30 years.
The furniture store, which opened for business in 1959 as Ken’s Suburban Furniture, announced its retirement sale on March 19 on its Facebook page.
Greenbaum has not indicated when its last day of operation will be.
Customers can browse Greenbaum‘s website for living room, dining room, bedroom, home office, accessories, and outdoor furniture pieces, though a trip to the store would be better for determining which products are still available.
Another iconic furniture store closes
Another 67-year-old furniture store, Kelsey Furniture Company, announced on its website and social media that it must close its iconic Tuscola, Ill., location, since its store building has been sold.
The company, which opened for business in 1959, will liquidate all merchandise and assets in a going-out-of-business sale that began March 5.
More closings:
- 67-year-old furniture retailer liquidates, closes down
- Kroger grocery chain rival closes locations in restructuring
- 143-year-old grocery chain closes more locations, lays off dozens
The owners are leaving the furniture business after posting a goodbye message: “…goodbye. Thank you to all our loyal customers for the past 67 years. We will miss all of you!”
Kasala furniture chain liquidated
Another Washington-based furniture company also recently closed for reasons other than economic hardship, as furniture store chain Kasala Modern Home Furnishings said it would close down its three stores in the Pacific Northwest, as the owners plan to retire from the industry and focus on other business and personal interests, according to its website.
The Seattle-based furniture chain rolled out “The Great $5 Million Store Closing Sale” with a private sale that began Feb. 4 and expanded to the general public on Feb. 6, seeking “to sell our entire and complete stock to the bare walls as quickly as possible,” according to a message on its website at the time.
Kasala seems to have successfully liquidated all of its inventory and shut down all of its stores, as the company’s website has been disabled.
Related: Major supermarket chain closes more stores, lays off dozens