LUBBOCK, TX (KCBD) – Lacks Furniture has announced that the company will file for protection under Chapter 11 bankruptcy.
Lacks has been in business for 73 years, founded in 1938. During those years, Lacks financed customer accounts by borrowing from banks and other lenders. Lacks store owners say their lenders no longer wish to work with them, and have demanded re-payment.
Now, Lacks plans to hold store closing sales at all of its 39 retail locations, including Lubbock Locations at 4602 Avenue Q and at 5741 50th Street, in the next 45 to 75 days.
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