| Business Summary | | Heilig-Meyers
Company
is
engaged
primarily
in
the
retail
sale
of
home
furnishings
and
bedding.
The
Company
operated
two
primary
segments
for
the
full
fiscal
year
as
Heilig-Meyers
Furniture
and
The
RoomStore.
The
majority
of
the
Heilig-Meyers
stores
operate
in
smaller
markets
with
a
broad
line
of
merchandise.
Stores
under
The
RoomStore
division
display
and
sell
furniture
in
complete
room
packages.
The
rooms
are
arranged
by
professional
designers
and
sell
at
a
value
when
purchased
as
a
group.
The
Company's
Heilig-Meyers
offers
a
broad
selection
of
competitively
priced
home
furnishings,
including
furniture
and
accessories,
consumer
electronics,
appliances,
bedding
and
other
items
such
as
jewelry
and
seasonal
goods.
The
RoomStore
stores
primarily
sell
mid-price-point
furniture
and
accessories,
and
bedding.
In
August
2000,
the
Company
announced
that
it
would
file
for
Chapter
11
with
the
United
States
Bankruptcy
Court
for
the
Eastern
District
of
Virginia. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | HMYRQ,
and
its
subsidiaries,
are
engaged
in
the
retail
sale
of
home
furnishings
and
bedding.
Stores
are
located
in
small
towns
and
rural
markets
in
the
southern,
mid-western
and
western
US.
For
the
nine
months
ended
11/30/00,
revenues
fell
37%
to
$1.17
billion.
Net
loss
before
accounting
change
totaled
$641.9
million,
up
from
$63
million.
Revenues
reflect
the
elimination
of
the
Company's
installment
credit
program.
Higher
loss
reflects
$594.1
million
in
reorganization
expenses. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY2000 Pay | |
| William DeRusha, 50 Chairman | $1.2M | Donald Shaffer, 57 Pres,
CEO, Chief Operating Officer | 504K | Paige Wilson Exec. VP, CFO | -- | James Cerza, Jr., 52 Exec.
VP- Operations | 444K | William Helms, 51 Exec.
VP- Puerto Rican Operations | -- | Dollar amounts are as of 29-Feb-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|