On July 16, 2025, it was reported, industry veteran John Feizy, who founded Feizy Rugs more than 50 years ago, died July 13. He was 83. John Hosein Feizy was born in Arak, Iran, in 1942 and emigrated to the U.S. in 1963. He attended Central State University (now University of Central Oklahoma) in Edmond, Oklahoma, working multiple jobs to pay his tuition and earning a business degree. He founded Feizy Rugs in 1973, following a family tradition of buying, selling and collecting rugs that spanned four generations. What began as a small retail rug store carrying only fine and hand-knotted rugs would become a leading wholesale supplier of handmade and machine-made rugs with showrooms in Dallas, High Point and Las Vegas. "John was more than the visionary behind Feizy Rugshe was a father figure to so many of us," said Michael Riley, company president. "His wisdom, warmth, and boundless dedication shaped the culture of our company and the lives of everyone who had the privilege to work alongside him." . He later opened a factory in Turkey in 2000. To this day, Feizy Rugs says it is the only American company to wholly own its own factory, Covtex-Feizy. Feizy is survived by his wife Janice, and their children, Leah and Cameron, who remain active in the company. "Feizy Rugs was never just a company, it is a family," said Cameron Feizy, company CEO. "My father spoke often of how deeply he cared for everyone involved and how grateful he was for their commitment and hard work. His wish was for all of us to persevere together through this difficult time."
On July 16, 2025, it was reported, the founders and owners of Ladco Inc., a distributor of luxury interior design products and services, have sold the company after a 58-year run. Co-founders Phillip and Ronnie Ladin converted Ladco into an Employee Stock Ownership Plan (ESOP) in 2013, making every employee a shareholder in the company. This month, the company has been sold to Cascata Capital, a group of investors representing luxury real estate developers and builders. Terms of the sale were not disclosed. "We are excited for the opportunity to partner with the Ladins and the rest of the Ladco team to build on the company's reputation and success over the past 58 years," said Chris Cuzalina, founder of Cascata Capital. "We look forward to supporting Jim Goergen, CEO, and the management team in executing their vision for growing each segment of the business with our capital investment and strategic relationships across the country to serve as a catalyst for future growth." As part of the transition, the company will change its name to Ladco LLC. Ladco offers luxury home furnishings from more than 100 vendors, and it provides its design clients with managed inbound logistics and use of its warehouse services (including repair and deluxing services) at no additional charge.
On July 15, 2025, it was reported, top 100 retailer Steinhafels' seventh store in the greater Chicago area, and first in Indiana is open. The Waukesha, Wis.-based retailer soft-opened its 16th overall store in Merrillville, Ind. on July 15. Officials are planning a grand opening for Aug. 10. Chicagoland has been a good market for Steinhafels, and President Andrew Steinhafel said now that Merrillville is open, the retailer now has the market completely encircled and is now reasonably close to most residents, regardless of where they reside. The store is located at 1600 E. 80th Avenue in Merrillville Plaza in Hobart, Ind., which is part of the greater Merrillville area. "Steinhafels is a great addition to our growing retail and business community," said Josh Huddlestun, mayor of Hobart. "They bring not only jobs and economic investment to our region, but also a strong reputation for service and community involvement." The store is around 50,000 square feet and previously was home to The Roomplace, and Art Van Furniture before that, so it was already built out for furniture. Steinhafel said modifications included new flooring and a reduction of backroom size, but it didn't take much to make it retail ready. But one big difference is that it's smaller than a typical Steinhafels store, so its assortment is a bit more tailored. He said once Steinhafels made Chicago growth a priority, Merrillville stayed in its sights. And while Merrillville draws from the eastern edges of Chicago, it also pulls business from up to two hours to the south, closer to Indianapolis. "It's a wonderful location near many of our competitors," Steinhafel said. "The retail in Merrillville is astounding."
On July 11, 2025, it was reported, The discount retailer sold the banner to private equity firms more than a decade after acquiring it for about $8.5 billion. Months after first announcing the deal, Dollar Tree has completed its sale of Family Dollar to Brigade Capital Management and Macellum Capital Management for just over $1 billion. With amounts subject to final adjustments about 90 days after closing, the sale's net proceeds are estimated at about $800 million, per a company press release Monday. Dollar Tree anticipates the economic impact of tax benefits from losses to be around $375 million. The completed sale marks a notable loss from when Dollar Tree acquired Family Dollar for $8.5 billion over a decade ago. "With a singular focus on our core business, we are doubling down on what we do best delivering value, convenience, and discovery to our customers every day. Family Dollar will now operate as a private retailer after more than a decade operating within the publicly-traded Dollar Tree company. Dollar Tree won a bid for Family Dollar in 2014, beating out a higher offer from competitor Dollar General due to antitrust concerns. Family Dollar has since been a weight on Dollar Tree's overall performance, with Dollar Tree publicly considering the sale of the banner since June 2024. Earlier that year, Dollar Tree announced it would close almost 1,000 Family Dollar stores in a larger turnaround effort. Without the impact of Family Dollar on the larger business, Dollar Tree first quarter net sales announced in June grew 11.3% year over year to $4.6 billion, with comps increasing 5.4% and traffic rising 2.5%.
