In 1989, Mitchell Gold and Bob Williams founded a furniture store bearing their names. The company became an American success story until financial troubles hit, resulting in bankruptcy. The sudden collapse of Mitchell Gold + Bob Williams came as a shock to many in the industry, leaving them wondering what went wrong.
The furniture business of Mitchell Gold and Bob Williams once survived their personal breakup. But the 34-year-old company that became known for its upscale furniture and modern designs faced challenges that ultimately led to its downfall. Despite their efforts to stay afloat, the company's bankruptcy case was converted to Chapter 7, a liquidation under the U.S. Bankruptcy Code.
North Carolina furniture chain Mitchell Gold + Bob Williams converted its Chapter 11 bankruptcy to a Chapter 7 liquidation after facing financial difficulties. The decision to liquidate came after the company's factories in western North Carolina ceased operations, leaving many employees without jobs.