Fridley-based Home Valu plans to close doors
Home Valu Interiors, the home improvement company made famous by former U.S. Sen. Rudy Boschwitz, plans to close its doors, company officials announced on Monday.
"It's been a terribly, terribly tough period that was aimed directly at our industry," Boschwitz said. The former Minnesota senator currently serves as the company's chairman.
In a statement released Monday, Home Valu's CEO Gerry Boschwitz, the son of the former senator, attributed the closure to "depressed real estate, frozen credit, a terrible economy and frightened consumers."
Company officials said they failed to downsize quickly enough to prevent the closure.
"We recognized, under the circumstances, the possibility [of closing], but we were more optimistic," Rudy Boschwitz said.
The 46-year-old company will spend the next few months shipping the remaining inventory to its Fridley headquarters for liquidation.
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