Smith’s Unveils Plan For Liquidating Stores

Smith’s Home Furnishings has laid the groundwork in U.S. Bankruptcy Court for liquidating a warehouse and eight closed stores in Washington state.

Smith’s proposal for liquidation of its Washington stores and a warehouse has three components:

The sale of about $4.36 million of Smith’s furniture inventory to McMahan’s furniture.

The transfer of about $950,000 worth of Smith’s Washington-based furniture inventory to the company’s stores or warehouses in Oregon.

The return of Smith’s appliance and electronics inventory in Washington to the companies that financed them.