Day: November 24, 2025

• A decades-old, family-run furniture retailer has filed for Chapter 11 bankruptcy protection.
• In court filings, American Signature Inc. said the brutal housing market was partly to blame.
• The company behind the two furniture chains plans to shutter more than two dozen stores.

A family-owned, 77-year-old furniture retailer has filed for bankruptcy protection — and said the sluggish housing market was partly to blame.

American Signature Inc., the Ohio-based parent company behind the Value City Furniture and American Signature Furniture chains, plans to shutter more than two dozen stores across the US as it reorganizes its debt, court papers show.

The retailer, which had already announced plans to close several stores, mostly in Tennessee, now plans to shut down a total of 33 stores, or roughly one-quarter of its total, it said in court filings. The company currently employs about 3,000 people and runs more than 120 stores across 17 states.

In legal filings, the retailer blamed several factors for its financial downfall, including rising costs, elevated interest rates, and President Donald Trump’s tariffs. It also cited “one of the most severe housing market declines in recent history.”

As Business Insider reported earlier this month, the housing turnover rate — or the pace at which homes change hands — has dropped to its lowest levels in decades amid rising rates, according to an analysis by Redfin.

For American Signature, this has contributed to steep losses amid declining sales. The furniture retailer reported sales of $803 million in 2025, down from $1.1 billion in 2023, according to the court filings.

The company reported net operating losses of $18 million in fiscals 2023 and 2024 — and $70 million in fiscal 2024, court filings said.

The retailer said in court documents that it plans to continue to liquidate inventory and close underperforming stores — a process it began in September — while pursuing a sale of its remaining businesses and assets.

According to the filings, the retailer expects to enter into an asset purchase agreement with an entity identified as ASI Purchaser, LLC, pending court approval. The bidder and its guarantor are tied to the Schottenstein family, which founded American Signature in 1948.

American Signature told Business Insider in a statement on Monday: “Value City Furniture and American Signature Furniture stores and websites remain open at this time, and we will continue to fulfill customer orders and provide ongoing customer service to the best of our ability through this process.”

“We expect the future of our store footprint to be determined by the outcome of the sale process,” it added.

Court filings revealed only some of the store locations targeted for closure early next year. They include:

• Value City Furniture at 2320 Sardis Road North, Charlotte, NC 28227

• American Signature Furniture at 1770 Galleria Blvd, Franklin, TN 37067

• American Signature Furniture at 2130 Gallatin Pike North, Madison, TN 37115

• American Signature Furniture at 2821 Wilma Rudolph Blvd, Clarksville, TN 37040

• American Signature Furniture at 2075 Old Fort Parkway, Murfreesboro, TN 37129

• Moving my family from New York City to Puerto Rico brought both joys and unexpected challenges.
• The welcoming community and consistent climate make daily life enjoyable for expat families.
• A high cost of living and grocery shortages are surprising downsides in San Juan.

I like to joke that I “fell into a Puerto Rican crowd” in college. For four years, I’d frequently find myself in rooms where my lack of Spanish was noticeable. Over the last two decades, I made lasting friendships with Puerto Ricans and visited the island almost annually.

I lived in New York City for over 15 years. Between a mass exodus of friends caused by COVID-19 and the demands of raising children, the city was beginning to feel less and less appealing. So when my husband accepted a new job that was fully remote (I was already working from home), we decided it was time for a change.

Puerto Rico, with its beautiful beaches and an established group of our friends, beckoned. In August 2024, we moved from New York City to San Juan.

Almost a year and a half in, and we’re still thrilled. That said, it’s not all salty breezes and sunshine — like with everything, there are downsides.

We were wholeheartedly welcomed

The local community has welcomed us with open arms. It feels like the people are truly invested in how expats — at least those with a genuine desire to be part of the community — experience the island. It feels as if they want to showcase its beauty, and they want everyone to have the best time.

They’re also fully aware of the island’s shortcomings, but will do anything they can to smooth over any issues new residents might face (difficulty getting doctor’s appointments, for example). Mere acquaintances have gone out of their way to give me their number and tell me not to hesitate to call if I need anything — and I know that they 100% mean it.

The no-seasons lifestyle is lovely

No seasons means a consistent routine year-round — and that makes for a more active lifestyle.

One of my biggest concerns about moving to the Caribbean was the lack of seasons. I do miss the crisp fall air and that feeling of rebirth in spring’s mild rays (also, the summers here are unbearably hot); however, simply strutting out of the house without having to worry about checking the weather is incredibly liberating, as is not having to bundle up a resistant toddler.

Between the consistent temperatures and the absence of daylight saving time, the day-to-day experience here is essentially the same year-round. While that may sound like a homogenous slog to some, there’s something amazing about having a similar routine all year.

It gets dark around the same time (a civilized 6 to 7 p.m. or so), meaning I don’t have to fight to get my kid to bed when it’s still light outside. I can play beach tennis at 7 a.m. year-round, go jogging barefoot on the beach most days, and hit the gym early — schlepping to a workout in the morning isn’t half as bad when it’s warm and light out.

I feel a bit like I’m in college again

This is probably more neighborhood- than Puerto Rico-specific, but we live in an area that’s home to two English-speaking schools, and thus consists primarily of expats and parents from our kids’ school (which I can see from my doorstep — another perk that beats our previous subway ride).

This means that I have an almost instant connection with nearly everyone I meet in my building, on the street, or at the local playground, making it easy to make friends.

Life in San Juan is surprisingly expensive

We didn’t move to Puerto Rico to save money, but neither did we think we’d be spending as much on our basic living expenses as we did in Brooklyn.

We spend more on rent (granted, we have one more room and bathroom than before, a washer/dryer, and ocean views), and our weekly grocery bill is pretty much the same as it used to be, if not a little more than before, since almost everything is imported.

Restaurants are also expensive. Of course, you can find affordable meals, but those don’t tend to be the ones I’m craving. Any somewhat average spot will charge around $18 for an entrée, and for upscale restaurants, you can expect to pay twice that.

The grocery store situation is dire

My biggest struggle here is grocery shopping. I’ve always liked to plan my meals for the week in advance and then do one big shop. That’s nearly impossible in San Juan. I’ve found that I can’t always count on items like parsley or ground chicken to be in stock, and the fresh food seems to have a much shorter shelf life than I’m accustomed to.

For the most part, this can be traced back to the Jones Act, which says that goods shipped by water between two US ports must be carried on US ships. Not only does this make the cost of goods more expensive, but it also means that even a banana grown in the neighboring Dominican Republic would likely stop in Florida before heading to Puerto Rico, significantly reducing its shelf life.

The local cuisine is unexpectedly heavy

I’m on a Caribbean island, with the cerulean sea sparkling around nearly every corner. I thought I’d be feasting on fresh fish and tropical fruits daily, but in truth, fresh produce is hard to come by.

Plus, Puerto Rico doesn’t have much agriculture — it imports 80% of its food. The diet here is much heavier than I expected: rice and beans, pork, and fried snacks like alcapurrias, bacalaitos, and tostones dominate menus. Tasty, for sure, but not as light as I had envisioned.

We’re happy with our decision

We moved here knowing it wasn’t forever, but so far, living in Puerto Rico has exceeded our expectations. Yes, there are frequent power outages and the heat can be brutal, but raising a kid here is much easier, and work-life balance is more of a priority.