Locally-Owned Flooring & Decorating Company Holds Liquidation Sale Following Bank Pressure

Capital Floors & Decorating, a family-owned, Richmond-based business since 1969, closed its doors on December 21 after 41 years in business. Their Short Pump showroom, which the company opened in 2002 on Brookriver Drive behind Best Buy, is reopening today for a full liquidation sale. President Marc Vest says he closed the business following the […]

January 6, 2011; 11:28 AM • by Trevor Dickerson

President Marc Vest says he closed the business following the decline of the home decorating business and mounting pressure from SunTrust Bank on his building’s mortgage and line of credit.

Despite making full mortgage payments on time each month, the bank called his loan, in the amount of $2.4 million– money he just didn’t have.

All proceeds from today’s sale, which will include all merchandise and stock, fixtures and other assets, will go to repay SunTrust, with Vest’s vendors unlikely to see any repayment. His building will be subject to a foreclosure auction on January 11.

The company started as a supplier of vinyl, ceramic, hardwood and laminate flooring, as well as carpeting and other floor coverings for custom homebuilders in the Richmond area, a list that grew to over 80 builders before the company’s demise.

The opening of the company’s Short Pump showroom expanded their reach to the end user, allowing customers to select floor coverings and home decorating materials for their own projects.