Hudson Capital and Hyperams will acquire the Fort Myers-based retailer.
FORT MYERS — Robb & Stucky will be sold for liquidation to Hudson Capital and Hyperams LLC, following a decision handed down by the U.S. Bankruptcy Court of the Middle District of Florida.
The Hudson-Hyperams joint venture agreed to pay roughly 75% of the value of the Fort Myers-based furniture retailer's remaining inventory, or roughly $30 million, to acquire the firm. Robb & Stucky owes its creditors roughly $35 million, according to multiple reports.
Founded in 1915, Robb & Stucky employs 1,300 workers in 30 showroom facilities throughout the United States. The company generated $139.7 million in sales in its 2010 fiscal year, down 49% from its 2006 sales of $273.7 million.