On July 24, Julia Sherman first emailed secondhand furniture company Kaiyo regarding a cash out for her latest sales. She is still “awaiting about $800 worth in payments from the sale of furniture from my late grandmother’s estate,” well outside of the seven-to-10 business day window the company promises.
Cristina Fernandez, managing director and senior research analyst at Telsey Advisory Group, told Modern Retail that all furniture retailers “from low to high end” have felt the effects of a sector-wide slowdown. Z Gallerie, Mitchell Gold + Bob Williams and Noble House Home Furnishings all filed for bankruptcy in 2023.
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