Furniture retailer Upholstery Arts at West 7th and Burrard had closed its doors for good.
The company, founded by businessman Len Laycock, filed for receivership November 12th. According to the Vancouver Sun, the company was apparently a victim of poor economic times.
“It [sold] a high-end product, and like many luxury items, I’m sure it wasn’t recession-proof,” said Steve Lum, bankruptcy trustee with Campbell Saunders, the firm appointed to act as receiver in the case.
Customers awaiting orders have been told to wait until the firm completes a detailed inventory of the company’s furniture stock. Those whose orders have not yet been made will have their names added to the list of company creditors, Lum said.
Meanwhile, auction house Maynards has been retained to sell off the store’s display inventory.
According to the Better Business Bureau, the sudden closure of the business has sparked more than 100 public complaints to the bureau in the past month.
Last modified: November 23, 2010