MEMPHIS, Tenn. — Stash Home, a middle to high-end retailer owned by Top 100 retailer Dufresne Spencer Group, is permanently closing two retail locations.
“It is a very difficult decision to close a business that’s been a high performer for 10 years, but our evaluation of the overall business strategy required us to make a tough call that we realize impacts employees and customers,” said Chad Spencer, CEO of Dufresne Spencer Group.
The going-out-of-business sale for the two Stash Home locations — in Memphis and in St. Louis — is being conducted by Planned Furniture Promotions.
“We’ve had tremendous growth with our Ashley HomeStores over the past three years, nearly tripling in size and expanding into new regions of the country, mostly from acquisitions and partnerships,” said Spencer. “To continue to succeed as DSG, we need to focus on excelling with our core brand, bringing our company together and moving forward as we reinvent retail with technology, innovation and an incredible customer experience.”
Stash Home was founded in 2010 by Chad and Jim Spencer along with Jeff Edgeworth to fill a void they saw in the middle to high-end furniture retail space. They opened their first two stores in Memphis and Oxford, Miss., which were followed by Tupelo store in 2013 and the St. Louis location in 2015.
Dufresne Spencer Group is a privately held company and licensee of Ashley Furniture Inds. with 100 Ashley HomeStores and about 3,500 employees across 12 states.