Recession doesn't Sit Well with Furniture Stores
After limping through the depths of the recession, three major Fresno furniture stores are now calling it quits as their leases expire and their sales show no signs of recovering.
Family-run Slater's Drexel Heritage closed its West Shaw Avenue store last weekend after 98 years in business. World Furniture Direct's Blackstone Avenue location and Home Design Furniture at the southwest corner of Blackstone and Shaw avenues will close soon, too.
All were hit hard by the economic slowdown in an industry that already was competitive. Attempts to move and experiments with new concepts couldn't save them.
Slater's closing came fast and by surprise.
Brothers Dewey and Mark Slater said they were losing money selling high-end furniture at their current location near Shaw and Valentine avenues. They built that building years ago, but had since sold it and were renting. With their lease set to expire, they had planned to move to a more central location with cheaper rent.