Wholesale Interiors and Chicago Private Equity Group today announced a new partnership that will establish a fund for the eventual acquisition of suppliers of both restaurant furniture and commercial furniture.
Online PR News – 04-December-2010 – – CHICAGO — December 3, 2010 — Wholesale Interiors and Chicago Private Equity Group today announced a new partnership that will establish a fund for the eventual acquisition of suppliers of both restaurant furniture and commercial furniture. Once built, Wholesale Interiors will lead a project aiming to acquire small to mid-sized manufacturers and suppliers, bringing them under the wing of the well-established manufacturer and distributor.
The resulting expansion will allow Wholesale Interiors’s industry-wide competitive pricing to be offered on a multitude of new products, styles, and categories. “We are interested in taking over suppliers with promising ideas and procedures who have been struggling or only mildly successful in the current economic climate,” said Chuck Tanner, Co-President of Wholesale Interiors. “Our current product line is expanding on a monthly basis and is wildly successful. In joining with Chicago Private Equity Group, we hope to identify and purchase vendors and manufacturers with exceptional business plans and product lines, making them more readily available to drop shippers and brick and mortar stores.
The value we hope to offer will provide a great deal of savings to all parties involved, but especially our dealers and their end users.” Recent research data shows that furniture industry sales as a whole have dropped annually over the past 5 years, with over 90% of manufacturers and retailers alike reporting a loss. Wholesale Interiors reports growth, albeit a smaller-sized growth in comparison to pre-recession years. Tanner elaborates, “the recent growth we’ve experienced in spite of tough times is something we view not as a boon but as concrete proof that we offer an promising approach to the furniture industry. This will serve as a major player in our negotiations in the near future, thanks to this collaboration.”
With Wholesale Interiors being the largest manufacturer of furnishings in the United States, an already vast array of styles within the categories of mid-century modern, transitional, and contemporary are stocked within a centrally-located 130,000 square foot facility in Chicago. Over 500 unique products are currently offered for wholesale to furniture stores, furniture e-retailers, large commercial projects (think restaurants, hotels, and universities), and interior designers. For a growing online catalog, visit http://www.wholesale-interiors.com
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