Courtesy of Rothman Furniture
Rothman Furniture and Mattress will be closing after being in business for 90 years because of competition from larger corporations, according to its owners. The family-owned business has been in St. Louis since 1927 and started out as just a catalog store. Since then, it has grown into a multi-location company.
Before IKEA, Ashley Furniture, Bob’s Discount Furniture, and Value City, President and CEO Jay Steinback says, “Most of our competition was local. We all had similar advertising budgets, buying budgets. It was an even playing field."
But with the growing popularity of big furniture companies, Rothman couldn’t afford to compete, explains Steinback. “These are national companies that have ad budgets that are multiple times my gross revenue.” He adds, “National companies were there and existed, but were at a disadvantage because consumers wanted to buy locally.”
“I’m a third-generation, and each generation needs to redefine the store and run it their own way. If my father Dale ran how my grandfather Milton ran it, it would never morph into something." The competition of billion-dollar corporations moving into the St. Louis area hurt Rothman’s business, he adds, leading him to close all local Rothman locations. “We’ve had multiple generations of customers and employees work their entire adult careers here. We have a woman, Julie, who just celebrated 49th year of employment. She started working here when she was 17 years old."
Courtesy of Rothman Furniture
The company makes around $50 million in revenue annually and employs over 200 people. Rothman Furniture started in O’Fallon, Missouri, and expanded to Alton and O’Fallon, Illinois, St. Louis county, and Bridgeton.
But the closing of the well-known store isn’t a sign of defeat for Steinback, and he thinks it doesn't mean that local companies can’t flourish. “It’s not impossible, and I’m not saying we gave up, but we simply didn’t take the path where we could take the Rothman name to other places.” Steinback says he has plans after Rothman Furniture but is keeping them under wraps for now. As of now, he is focusing on the Rothman legacy and the impact it has had on St. Louis—like more than $1.5 million donated to charity, he says.
Rothman Furniture will soon be holding liquidation sales and want to sell everything before permanently closing their doors. Steinback adds, “Every business has a lifespan. It may not be the one you want, but it may be better to go out by your own choices.”
