Erdos at Home
LITTLE ROCK (KATV) -
Several calls have come into our Seven-On-Your-Side office this week concerning the note on the door of a west Little Rock furniture store.
Tonight…a look at what is going on with Erdos at Home.
In late 2015 furniture chain I.O. Metro moved its headquarters from northwest Arkansas to the big city...Dallas.
And last fall the headlines were positive...I.O. Metro was rebranded as Erdos at Home. Interior guru John Erdos was hired as CEO by private investors to revamp a dozen stores and rev up sales.
Apparently it didn't work.
Two weeks ago private equity firms Diamond State Ventures and Banyan Investment Partners pulled the plug.
Last week the locks were changed on the Erdos at Home store in west Little Rock.
Stores in seven states have been shuttered...leaving 90 employees out of work.
And leaving customers waiting delivery in limbo.
"If you have paid in full with a credit card you can challenge that charge on your credit card and ask that it be reversed,” advises Janet Robb with the Arkansas Better Business Bureau. “If you have paid in cash you really have very, very limited options. You can hope at some point that you can get in touch with the company and either get your furniture or your cash. Or if they have filed bankruptcy you can file a claim with the bankruptcy court."
The sign on the door says closed temporarily, which offers a little comfort to customers who have paid for furniture but have yet to receive it.
And inventory still remains inside. It's not like the place has been cleaned out.
"What you hope to hear at the end of the day as a resolution on a case like this is that eventually someone contacts the consumer and they do in fact either get their merchandise or get a refund," says Robb.
We have tried contacting corporate headquarters and stores in several states and the phones are not being answered anywhere.
Two weeks ago CR3 Partners, a Dallas-based firm hired to manage these closings, said Erdos at Home stores would remain open for eight weeks until inventory was sold.
Air date: April 19th, 2017