After closing down earlier this week, the largest independent wood flooring distributor in the U.S. at more than $600 million in sales, Hoboken Wood Flooring LLC, Wayne, NJ, has filed a voluntary petition for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware.
According to a report this week from local paper The Record, sales had fallen about 25% each month for the past year – the commercial business development manager for the company attributed the sales losses to the housing downturn, competition from manufacturers going direct, and the company’s push to expand nationally.
The latter was emphasized in a Floor Covering Weekly report published shortly after private …
