With a decade of success through high-end looks and value pricing, Stash Home recently announced that it will close its retail locations permanently.
“It is a very difficult decision to close a business that’s been a high performer for 10 years, but our evaluation of the overall business strategy required us to make a tough call that we realize impacts employees and customers,” said Chad Spencer, CEO of Dufresne Spencer Group.
Stash Home, owned by Top 20 U.S. furniture retailer Dufresne Spencer Group, LLC, has begun preparing for going-out-of-business sales at two locations in Memphis, Tenn. and St. Louis, Mo. The sales will be conducted by high impact furniture sales experts Planned Furniture Promotions.
“We’ve had tremendous growth with our Ashley HomeStores over the past three years, nearly tripling in size and expanding into new regions of the country, mostly from acquisitions and partnerships,” explained Spencer. “To continue to succeed as DSG, we need to focus on excelling with our core brand, bringing our company together, and moving forward as we reinvent retail with technology, innovation, and an incredible customer experience.”
Stash celebrated its 10-year anniversary in June. The flagship Memphis store has been voted Best Furniture Store for nine of its 10 years serving the Memphis area.
Known and loved as a place to find unique, quality home furnishings at reasonable prices, Stash Home was founded in 2010 by Chad and Jim Spencer along with Jeff Edgeworth to fill a void they saw in the middle to high-end furniture retail space. They opened their first two stores in Memphis and Oxford, Miss., which were followed by Tupelo store in 2013 and the St. Louis location in 2015.
Dufresne Spencer Group is a privately held company and licensee of Ashley Furniture Inds. with 100 Ashley HomeStores and about 3,500 employees across 12 states.
About Dufresne Spencer Group, LLC: DSG is a top 20 Furniture Retail company and the largest Ashley HomeStore licensee in the country. Headquartered in Memphis, TN, the organization operates 120 retail locations and 20 distribution centers across 12 states. With nearly 3,500 team members, they focus on making Life Moments Matter for their teams, guests, and community.