Smith’s Sales Fall Below Target

Sales at Smith’s Home Furnishings are falling behind the projections made by the company in bankruptcy court proceedings, officials of the retail chain admit.

Sales through the first week of September were $1 million less than projected in the debtor’s budget, according to a motion filed in U.S. Bankruptcy Court by Whirlpool Financial Corp., one of Smith’s creditors.

“For us, it’s less than we’d like, but it doesn’t shock us,” Brad T. Summers, an attorney representing Smith’s, said Tuesday. He said he didn’t believe the shortfall would cause problems.

Smith’s continues to operate stores in Oregon and Boise. Its two Spokane stores and several others in Washington have been closed since late August.

A court exhibit showed net receipts as of Sept. 8 at just more than $1.6 million, compared to a budgeted total of nearly $2.7 million.