PORTLAND, Ore. – A furniture store in downtown Portland is closing after 14 years of operation. Mike Albino, owner of Legacy Modern Home Furnishings, will close his store’s doors at the end of February, citing soft sales, a weakening key demographic and ongoing problems in the city.
“The biggest reason I’m closing is not enough people,” he told Furniture Today. “Over the past 14 years we have been steadily growing and increasing our footprint. When the pandemic hit, we thrived as many in our sector did. Then it softened as people put their money into travel.
“This was expected,” he continued. “But what I did not expect was the sales pipeline going dry. For me, it is the public perception of my neighborhood with the crime and rampant drug use keeping well-intended buyers away.”
Albino also told local Fox12 News that he’s had “a number of incidents with people camping and sleeping.”
“On top of that, our main demographic of 30- to 40-year-olds seem to be online-oriented with their product discovery and research of pricing well before they come out,” he told Furniture Today. “With the rise of online payment platforms, people are going wherever to buy what they want or just completing the transaction completely online.”
Aligning with this view, Albino won’t shut down the business entirely. He says he will keep an online presence.
“This has transformed our industry tremendously and makes one say, ‘why do I need a physical presence any longer?’ So, this is where we are headed – online, appointments, special popups, shows, etc., – every piece except a brick-and-mortar.”
Legacy Modern will sell in-store through Feb. 29. The store sold a variety of furniture, including dining tables, dressers, office chairs, lounge chairs, sofas and more.