Longtime retailer Youngs Furniture, located in Portland's East Bayside neighborhood, announced over the weekend that it will close.
The family-owned retailer, founded in 1931, said on Facebook that the family is retiring from the furniture industry.
“This decision comes with deep gratitude and mixed emotions,” said Corrin Waldo, who leads the operation.
Youngs Furniture will start a liquidation sale on Friday, Feb. 6, at 10 a.m.
The owners said that the decision to retire was "not a reflection of the business or community." The owners offered "sincere appreciation for employees, designers, vendors and partners who contributed to the company’s long-standing success."
“Our success was never just about furniture,” Waldo said in the post. “It was about relationships, craftsmanship and being a destination for beautiful things. We achieved that. Being a part of this community has been a privilege. We are proud of the legacy we leave behind and are beyond grateful to everyone who made it possible.”
Youngs Furniture, which plans to close, will start liquidating its stock on Friday, Feb. 6. PHOTO / PETER VAN ALLEN
Prime real estate
Youngs Furniture is in the building at 1 Diamond St. owned Coffee By Design founders Alan Spear and Mary Allen Lindemann. Coffee By Design has a roasting facility, retail site and cafe in the other half of the building.
"We are being thoughtful about who we want as a tenant as we have worked hard to keep the rent at a level a local company who is a compliment to the neighborhood can support," Lindemann told Mainebiz in an email.
"And a big thank you and appreciation to Youngs for 90 plus years of excellence," Lindemann added.
In recent years, the Diamond Street stretch has seen the addition of Orange Bike Brewing, a Skowhegan Savings Bank branch and Bite Into Maine. Nearby legacy businesses include Play It Again Sports, Marathon Sports and Rising Tide Brewing Co.
