Goldsteins Furniture closing its doors
After serving the Valley for more than a century, Goldsteins Furniture is closing its stores in Niles, Boardman and Hermitage.
The stores will be re-branded Levin Furniture stores in the fall.
Steve Goldstone, president and CEO of Goldsteins Furniture, said market conditions played a big role in his decision to sell.
“In order to expand, we needed to get to other markets,” Goldstone said. “We couldn’t go to Pittsburgh, Cleveland or Erie.”
Goldstone said vendors’ inventories are often sold to larger stores first. When the inventories have been bought by larger stores, small stores like Goldsteins must search for new vendors. Sometimes, stores run out of vendors.
In the past, Goldstone said, Levin had an agreement never to come to Youngstown. But the company was later acquired by Art Van and moved into the local market. Goldstone said he knew he couldn’t compete.
“They control every market they’re in,” Goldstone said. “I knew that was something I didn’t want to undertake.”
Goldstone said he couldn’t speculate how many jobs would be lost and which employees might be retained. The employees were a large part of the company’s success, Goldstone said.
“That’s what made the company what it was,” said Goldstone. “We’ve had second- and third-generation employees.”
Goldstone said the store has weathered a lot over the years.
“We’ve been here through the GM problems and the steel mills closing,” said Goldstone.
Thomas A. Scarnecchia, mayor of Niles, said Goldsteins was a good company.
“They have a good reputation,” Scarnecchia said. “I am disappointed to hear this.”
Goldstone said his mother is not taking news of the closing well.
“It’s like losing a 100-year-old friend.”