ST. LOUIS — Weekends Only Furniture & Mattress, the Webster Groves-based retailer whose brick-and-mortar stores are only open to customers on Friday, Saturday and Sunday, is going out of business, trade journal Furniture Today reports.
The family owned business is closing because owner and Chairman Tom Phillips, 70, is retiring, according to a press release cited by the trade journal. Separately, the publication reported that Lane Hamm, who had led Weekends Only as president and CEO, exited the company in August.
Weekends Only will close all eight of its stores – five in the St. Louis area, two in Indianapolis and one in Springfield, Missouri. The retailer has hired Connecticut-based Planned Furniture Promotions to run its liquidation sales, and while no date has been set for the closeouts, officials expect the liquidation to begin in January, according to the report.
All current merchandise orders will be filled, officials said.
With 2021 revenue of $74 million, Weekends Only is one of the St. Louis region's largest privately held companies. It has about 285 local and 357 total employees, according to Business Journal research. Most employees will continue to work through the liquidation, according to the report.
“After 25 years of serving the St. Louis area, Indianapolis and Springfield, Mo., we are so grateful for the many team members who worked with us and the customers we have been fortunate to serve,” Phillips said in the press release.
Phillips said in the release that he looks forward to spending more time with his wife, Peggy, and family, grandchildren and friends during retirement.
Click here for the full story from the St. Louis Business Journal.