Heilig-Meyers Company
Heilig-Meyers Company
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Product Details
Heilig-Meyers Company
Certificate Type
Common Stock
Date Issued
June 2, 1978
Canceled
No
Printer
Security-Columbian Bank Note Company
Signatures
Machine printed
Approximate Size
12" (w) by 8" (h)
Additional Details
NA
Historical Context
Heilig-Meyers was a retail furniture store chain founded in Goldsboro, North Carolina, in 1913 by two Lithuanian immigrants, W. A. Heilig and J. M. Meyers. Its corporate headquarters was in Richmond, Virginia. The chain grew to become the largest furniture retailer in the United States in the 1990s, ultimately having over 1,000 stores nationwide (including Puerto Rico). At one point, the company was considered the WalMart of the furniture industry.
Its over-expansion - by purchasing over 100 McMahan's Furniture stores based in Carlsbad, California, in 1993, as well as other stores and chains in the West - contributed to its failure. The company also bought the L. Fish furniture chain in the Chicago area; those stores were closed in 1999.
Heilig-Meyers filed for Chapter 11 bankruptcy on August 17, 2000, and subsequently announced the liquidation of its inventory. The Richmond Times-Dispatch reported in 2000 that the company failed when its large expansion did not succeed in creating sufficient revenue and when customers who had previously used the company's in-house credit began using credit cards instead. The company's credit customers had grown increasingly weary of lower quality.
All of the company's stores were closed at the end of the year, except for its RoomStore-branded locations, which remained open. In 2005, RoomStore, the only part of Heilig-Meyers remaining, emerged from Chapter 11 bankruptcy after receiving $35,000,000 to pay off its debts. RoomStore would be liquidated seven years later.
The company, which had sponsored NASCAR Winston Cup drivers Bobby Hillin, Jr., Dick Trickle and Mike Wallace, was one of the last furniture companies to finance its own accounts. The last CEO/President was Bill DeRusha.
In 2008, years after the company was liquidated, the company was sued for fraud. The suit contended that the retailer kept two sets of books and used an accounting method that led investors to believe that Heilig-Meyers was more profitable than it was. The case involved asset-backed securities sold in 1998 that were pools of receivables - the financial contracts of Heilig's customers, who had bought furniture on credit.
Related Collections
Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.
FAQ
Are the certificates offered on your site genuine or reproductions?
All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only. Â
Are the images presented in your product listings of the exact piece I will receive?
It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive. Â
How will you ship my order and how much do you charge?Â
We ship all orders via the United States Postal Service. Most domestic orders are shipped via Ground Advantage. USPS International, Priority and Express Mail, UPS and DHL services are also available, and costs are calculated during checkout. Current charges may be reviewed here.
Can I return my purchase?Â
Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
Shipping
If your order exceeds $35, and the shipping address is within the United States, shipping via USPS Ground Advantage is FREE!
We make every effort to ship out all orders within 24 hours of receipt.
We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
As soon as your order is shipped you will receive your tracking information via email.
OVERSEAS ORDERS PLEASE NOTE THAT WE DECLARE FULL ORDER VALUE ON ALL SHIPMENTS. CUSTOMER IS RESPONSIBLE FOR ALL VAT/CUSTOMS CHARGES.
Returns
Our goal is to make sure every item you receive is exactly what you had in mind. If you not happy with your purchase, weâll help you get it sorted in a timely and professional manner.
You can return anything we offer for an exchange, refund or store credit within 30 days of delivery. Return shipping costs may apply, and the item must be in its original condition and packaging.
Any shipping charges collected on the original order are not eligible for a refund.