A fixture of New England homes for decades is closing its chapter—literally. Circle Furniture files for bankruptcy, ending more than 70 years of operations with a Chapter 7 filing that signals full liquidation of the retailer’s assets.
The Acton, Massachusetts-based chain, which shuttered all nine of its stores in December, formally filed in the U.S. Bankruptcy Court for the District of Massachusetts on Jan. 30.
Financial Strains Behind the Curtain
According to court documents, Circle Furniture listed estimated assets between $1 million and $10 million, while liabilities soar from $10 million to $50 million, owed to an estimated 200 to 999 creditors. The company reported $15,043,178 in gross sales in 2025, down from $18,804,136 in 2024.
Chapter 7 bankruptcy, often called the “liquidation chapter,” allows a debtor’s estate to be sold off to satisfy claims under bankruptcy code rules. This contrasts with Chapter 11, or the “reorganization chapter,” which permits corporations to restructure without liquidating all assets.
