Michael’s Furniture Warehouse will close its doors after 58 years.
The longstanding home décor retailer in Van Nuys announced it is offering liquidation deals on everything in the 40,000-square-foot store as it prepares to shutter permanently. Current inventory was valued at more than $2 million. Tiger Capital Group, an asset appraisal and inventory auction firm headquartered in New York with offices in Westlake Village, is managing the going-out-of-business sale.
Michael’s has been owned by local couple Jerry and Roz Reisman since 1972. It was 10 years old when they purchased it.
“Along with their dedicated staff, Jerry and Roz Reisman have cheerfully served furniture shoppers from across the San Fernando Valley for generations,” Mark Bannon, director of furniture solutions at Tiger Capital, said in a statement. “Michael's Furniture is a mainstay of the community — not to mention cable TV.”
In the 1980s, the Reismans famously launched campy television advertisements for Michael’s that featured costumed characters such as “Mattress Mike,” “Boxsprings Bob,” “Furniture Faye” and “Bunny,” an attempt to parody the Energizer Bunny. The commercials were goofy, but they worked. At its peak, Michael’s Furniture was grossing $9 million in sales a year, Bannon said.
Liquidation sale discounts will range between 30 and 70 percent. The store is located at 7700 Woodman Ave.