Stylus Furniture Chain Files Chapter 11 Papers

Stylus Furniture Inc., a Corona-based chain of 19 stores, has sought protection from its creditors in U.S. Bankruptcy Court in San Bernardino, the company said Tuesday.

The company, which specializes in sales of custom-made modern furniture, filed a Chapter 11 bankruptcy petition on Monday. Chapter 11 allows a company to continue to operate while coming up with a plan to repay its debts.

“We intend to reorganize the company,” said Stylus President Michael Solomon in a brief telephone interview Tuesday. “We believe it (the filing) is a very positive step that is going to allow us to emerge a stronger company.”

Solomon would not discuss the company’s assets or liabilities, or elaborate on the problems that led to the filing.

The company, founded in 1985, grew quickly and specializes in contemporary furniture that appeals to younger buyers.

Analysts said the filing points up the difficulty that furniture retailers are having amid recession and war.

“Since the outbreak of the war, their business has fallen off tremendously,” said Tony Cherbak, a retail consultant for the accounting firm of Deloitte & Touche in Irvine. Consumers, he said, “are waiting to see what happens in the Gulf. Some furniture executives I’ve talked to (say) that it has just thrown their business off.”