LUFKIN, TX (KTRE) - By Jeff Awtrey - email
LUFKIN, Texas (KTRE) - Lack's Stores is closing its remaining 36 Texas stores, including its Lufkin location, according to a furniture Web site.
Furniture Today quoted a press release stating the company will file for Ch. 11 bankruptcy protection.
The company will conduct store-closing sales at all locations over the next 45 to 75 days, according to the Web site.
Lufkin Economic Development Director Jim Wehmeier called the closing a circumstance of the national credit crunch.
"To my knowledge, locally the Lacks location was doing well, and aside from the national credit situation would be fine and remain open in Lufkin," he said. "This is just another example of how no community is immune from the national economy and it's a shame to see this come to pass"