17 Retailers Reveal Closing Plans in First Quarter

Retirements and bankruptcies drive wave of home furnishings store shutdowns

Apr. 8, 2026 at 11:05am

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During the first three months of 2026, the home furnishings industry saw 17 retailers across the country announce plans to close or liquidate, with many citing retirement of ownership as the primary reason. Several high-profile chains, including American Signature Inc. and Circle Furniture, also filed for bankruptcy and began winding down operations.

Why it matters

The wave of closures reflects ongoing challenges facing the retail furniture sector, including the impact of the pandemic, competition from e-commerce, and the retirement of long-time family business owners. The shutdowns will disrupt local communities and leave gaps in the market, raising questions about the future of independent furniture stores.

The details

The retailers announcing closures ranged from century-old family businesses like McKinstry's Home Furnishings and Youngs Furniture to more recent chains like Kasala and Lifestyle Furniture. Many cited the retirement of owners as the main driver, while others like American Signature and Circle Furniture filed for bankruptcy. The closures will impact communities across the country, from Wisconsin to California.

  • On January 6, Furniture Today reported that McKinstry's Home Furnishings in Beaver Dam, Wisconsin is closing after 168 years in business.
  • On January 7, a stalking horse bid was declared successful, triggering a chainwide liquidation sale for the final 89 locations of American Signature Inc.
  • On February 2, Circle Furniture closed all of its stores, filed for Chapter 7 bankruptcy, and its assets went to auction.
  • On March 20, Lynwood, Washington-based Josh Underhill's Family Furniture began its final liquidation sale after 80 years in business.

The players

McKinstry's Home Furnishings

A 168-year-old family-owned furniture retailer in Beaver Dam, Wisconsin that is closing.

American Signature Inc.

A Top 100 furniture retailer that filed for bankruptcy in late 2025 and is now liquidating its final 89 locations.

Circle Furniture

A furniture retailer founded in the early 1950s that closed all of its stores, laid off employees, and filed for Chapter 7 bankruptcy in January 2026.

Josh Underhill's Family Furniture

An 80-year-old furniture retailer in Lynwood, Washington that is going out of business.

Youngs Furniture

A 95-year-old family-owned furniture store in Portland, Maine that is closing due to the retirement of its ownership.

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What’s next

As the furniture industry continues to evolve, industry analysts will be closely watching to see if other major retailers follow suit with store closures or restructuring efforts.

The takeaway

The wave of furniture store closures in the first quarter highlights the ongoing challenges facing independent retailers, including the retirement of long-time owners, competition from e-commerce, and the lingering impacts of the pandemic. These shutdowns will leave gaps in local communities and raise questions about the future of brick-and-mortar furniture sales.