Stor Company

After struggling unsuccessfully to become large enough to survive in the competitive furniture business, Stor Furnishings International called it quits Tuesday, agreeing to be taken over by archrival Ikea. The deal, expected to become final within six weeks, was valued at more than $20 million. With the takeover, Ikea, the world's largest furnisher retailer with 100 outlets and $3.

Ikea Completes Acquisition of Stor: The merger of the two low-cost furnishings chains became final with the tender of 98.9% of Stor's shares for $3.10 each to Ikea, the Swedish retailing giant. Stor, based in the City of Industry, is now a wholly owned subsidiary of Ikea Holding U.S. Inc.

Retailers across the nation are crying into their cash registers and predicting the bluest of Christmases. But for officials of the new Ikea furniture store in Burbank, one of the biggest worries has been keeping enough lingonberries and Swedish meatballs in stock to feed the crowd that hit the Scandinavian retailer's first store west of the Mississippi. And unsnarling parking jams.

After struggling unsuccessfully to become large enough to survive in the competitive furniture business, Stor Furnishings International called it quits Tuesday, agreeing to be taken over by archrival Ikea. The deal, expected to become final within six weeks, was valued at more than $20 million. With the takeover, Ikea, the world's largest furnisher retailer with 100 outlets and $3.

A new ad agency is in store for Stor. The contemporary furniture chain Thursday handed its estimated $5-million ad business to the Los Angeles office of Ketchum Advertising. Since Stor opened its first outlet three years ago, its only agency has been Gumpertz/Bentley/Fried of Los Angeles. "We felt it was time to reposition the company," said Jim Stadtlander, president of the City of Industry-based chain.

Ikea Completes Acquisition of Stor: The merger of the two low-cost furnishings chains became final with the tender of 98.9% of Stor's shares for $3.10 each to Ikea, the Swedish retailing giant. Stor, based in the City of Industry, is now a wholly owned subsidiary of Ikea Holding U.S. Inc.

Richard F. Clayton, vice chairman and chief operating officer of the Broadway-Southern California department stores, will become chairman and chief executive of Stor Furnishings International, effective Nov. 12. Clayton, 49, will succeed Harvey G. Knell, 45, who has served as Stor's chairman and chief executive since the home furnishings chain opened in 1986.

Retailers across the nation are crying into their cash registers and predicting the bluest of Christmases. But for officials of the new Ikea furniture store in Burbank, one of the biggest worries has been keeping enough lingonberries and Swedish meatballs in stock to feed the crowd that hit the Scandinavian retailer's first store west of the Mississippi. And unsnarling parking jams.

Richard F. Clayton, vice chairman and chief operating officer of the Broadway-Southern California department stores, will become chairman and chief executive of Stor Furnishings International, effective Nov. 12. Clayton, 49, will succeed Harvey G. Knell, 45, who has served as Stor's chairman and chief executive since the home furnishings chain opened in 1986.

A new ad agency is in store for Stor. The contemporary furniture chain Thursday handed its estimated $5-million ad business to the Los Angeles office of Ketchum Advertising. Since Stor opened its first outlet three years ago, its only agency has been Gumpertz/Bentley/Fried of Los Angeles. "We felt it was time to reposition the company," said Jim Stadtlander, president of the City of Industry-based chain.