Is Rotmans going out of business? Rotmans is New England’s most oversized furniture and flooring retailer. It is closing its doors after more than 60 years in business. Rotmans declared its closure in October due to the retirement of its CEO and president, Steve Rotmans. Since then, the local company has been holding a liquidation sale with furniture, mattresses, and rugs worth $20 million. Is Rotmans going out of business?
Rotmans stated that he considered selling the company because it is associated with his family’s name. So he decided that closing was the best option. Rotmans hopes to lease the five-acre property to small retailers and other companies struggling to find space in the future.
Rotmans said that his parents and brothers, who started the business, always thought of their employees and customers as family. He wants to control the space that he is in for a while. So he is collaborating with various retailers and people to build a beautiful environment for the consumer. Let us view in brief about Rotmans business in this article.
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Why Rotmans furniture going out of business?
Since the 1950s, the Rotmans family has been selling furniture in Worcester. Before opening Rotmans in 1972, they ran a home furnishings division in a department store. By 1986, the store was one of the fastest-growing furniture retailers in the country. It had then moved into its current location, 200,000 square feet in a former Worcester carpet mill.
The company has always been run by the Rotmans family. Murray and Ida Rotmans founded it before their three sons took over. Steve Rotmans, one of the sons and the current CEO and president, has always wanted the store to be run by the family. However, he is now retiring, and none of his younger family members want to take over as they have other jobs and interests.
Rotmans said that It was really a difficult decision on his part. But we must understand that Rotmans is 83 years old and working full time. He also stressed that money was not a factor in his decision. It is to be noted that the store has done well, averaging $30 million in sales per year for many years.
Rotmans has an eight-year lease on the building that houses the store. He will control what happens to it for the duration of the lease. He intends to turn it into a marketplace, renting space to other home goods businesses. “I’m not searching to earn the most money out of it,” he explained. His goal is to serve the public.
Is Rotmans still in business in 2023?
For the time being, Rotmans will continue with the liquidation sale. Currently, they have approximately 50 employees remaining until the store closes. Some employees said they’re not shocked by the announcement and are looking for new jobs. Nonetheless, they stated that adjusting to not continuing to work at the store would take some time.
Manager Barbara Kane said, “It means losing many friends.” In addition, she narrated that their team felt like part of the Rotmans family. Kane has worked at Rotmans for 23 years. She thinks everyone is loyal to the store, customers, and coworkers. Thus, the company was very close to the hearts of its employees.
Kane expects the store to finish its sale and close by the end of January 2023. Rainbow Furniture and Woo Town Furniture will be Worcester’s last locally owned home furnishings stores once that happens. Customers who shop at Rotmans frequently say they may have to start buying more new furniture online or from national chain stores. Thus the company has created more impact on the customers too.
Is Rotmans closing Soon?
CEO Steve Rotmans discontinued the emporium because he lacked next-generation heirs capable of running the company. Steve reasoned that the best thing he could do was to go out. Rotmans was purchased for more than $2 million in 2019 by Worcester-based manufacturer Vystar Corp., also led by Steve Rotmans. Rotmans will remain CEO of Vystar.
Customers from all over Massachusetts have been gushing in to take advantage of the reduced prices. They are taking one last glance at the iconic store.
Mary Hippert, a customer, walked around the six-floor showroom to see if there was anything else she should purchase from the store. She told me their family bought couches, bedroom sets, and other furniture over the past few decades. Hippert added. “It’s as if a piece of Worcester has vanished.”
Other long-term customers praised the store’s customer service and product quality. Rotmans holds special significance for Carlos Mohareb and his family because it is where they purchased all of their furniture when they relocated to Worcester from Egypt seven years ago. Mohareb said they’re now moving into another home and looking to fill it with new Rotmans products. Thus, customers consider Rotmans to be everlasting memories.
Customers considered Rotman’s Place to have a history and is family-owned. It is a great disappointment for many of its customers that a good company is going out of business. When a store like Rotmans closes, Worcester residents will have to travel much further to find good furniture.