Offenbachers, an outdoor furniture and recreation products retailer, is going out of business after a federal bankruptcy judge in Baltimore approved the liquidation on Wednesday.
The Lanham-based retailer will liquidate more than $9 million-worth of inventory, fixtures and equipment in a sale that begins Thursday at its eight stores in Virginia and Maryland, including stores in Columbia and Hunt Valley.
The company, formally known as ACP-Offenbachers LLC, filed for a Chapter 11 bankruptcy Monday in Baltimore’s U.S. Bankruptcy Court. Antson Capital Partners LLC, the Baltimore-based private equity firm that acquired the retailer in 2014 from Karl and Alpana Offenbacher, could not be reached for comment late Wednesday.
Assets from the company’s 120,000-square-foot headquarters and distribution center in Lanham also will be sold.
Offenbachers was founded in 1960 as a pool maintenance and lifeguard services company and opened its first store in in 1972 in Rockville. The company evolved to sell indoor and outdoor furniture, and outdoor entertaining equipment, such as bars, grills and fireplaces.
In 2015, Offenbachers had nearly $14 million in retail sales, and 65 full- and part-time employees. But it has struggled to compete with national chains, such as Home Depot and Lowe’s.
The company filed for bankruptcy after failing to save the business through cost-cutting measures or by finding another buyer.
Offenbachers has retained SB Capital Group LLC to conduct the going out of business sale and oversee the company’s wind-down.
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