*Furniture.com Loses Its Legs

Share this content:
Furniture.com, the online category leader in furniture and home furnishings, yesterday closed shop and sacked 76 of its 88 employees.


The Framingham, MA, company said in a statement that failure to raise additional funds for continuing operations forced its closure. The fired workers were given severance pay while the remaining 12 employees are looking for ways to sell company assets.


Calls to Don Goncalves, a Furniture.com executive, were not returned.


Launched in January 1999, Furniture.com recorded $22 million in net revenues for the nine months through September -- more than double the sales it posted last year. The site garnered nearly 1 million unique visits in September, the statement said.


The online market for furniture and home furnishings has already claimed many sites, including furniturefind.com and living.com, whose major investors included Starbucks Coffee Co. and Amazon.com.


Selling furniture online has not proven to be easy due to high shipping costs and customers' desire to touch and feel furniture before buying. Internet retailers failed on these counts, despite attempts by certain Internet-only players to waive shipping charges.


Furniture.com, however, has not left customers high and dry. The company said all deposits and payments for orders taken from late May have been placed in an escrow account to allow for refunds.
close

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

PAN Communications is an award-winning integrated marketing and public relations agency for B2B technology and healthcare brands. PAN's data-driven approach allows the firm to specialize in public relations, social media, content and influencer marketing, and data and analytics. PAN partners with brands to create unique, integrated campaigns that captivate audiences and drive measurable results. PAN services clients out of the firm's four offices: Boston, San Francisco, New York City and Orlando.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above