Schottenstein Family’s Furniture Chain Goes Bust on Tariff Woes

A furniture chain controlled by the family of retail entrepreneur Jay L. Schottenstein filed for bankruptcy, blaming in part the slow housing market and President Donald Trump’s tariffs for steadily falling sales.

American Signature, Inc. will close 33 stores and look for a buyer for the remainder, co-chief restructuring officer Rudolph Morando said in a court filing on Saturday. The company operates more than 120 locations under Value City Furniture and American Signature brands.

Since 2023, sales have declined from $1.1 billion to about $803 million in its latest fiscal year, Morando said in the filing in US Bankruptcy Court ...