Virginia Bids Farewell to 4 Iconic Retailers and Local Staples in 2026

VIRGINIA  – The retail landscape across the Commonwealth is undergoing a seismic shift as 2026 begins. From the bustling streets of Northern Virginia to the historic NEON District in Norfolk, several long-standing institutions are dimming their lights for the last time. A combination of corporate bankruptcies and well-earned retirements is ending decades of Virginia business history.

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The National Giant: Value City and American Signature Exit Virginia

Following the sweeping Chapter 11 bankruptcy filing by Ohio-based American Signature Inc. (ASI) in late 2025, the company has confirmed the total liquidation of its physical footprint. This includes seven prominent locations across Virginia that served as go-to destinations for affordable home furnishings.

Liquidation sales officially launched in early January 2026, with deep discounts intended to clear all remaining inventory. However, the process has been fraught with challenges for local shoppers. Many Virginians have reported issues with unfulfilled orders and non-refundable deposits, as the bankruptcy court prioritizes debt recovery over individual customer service.

Affected Virginia Locations:

• Chesapeake: Portsmouth Blvd and Greenbrier Pkwy
• Chesterfield County: Huguenot Road
• Fredericksburg: Carl D. Silver Pkwy
• Fairfax County: Leesburg Pike (Falls Church)
• Virginia Beach: North Mall Drive
• Prince William County: Prince William Pkwy (Woodbridge)

All sales at these locations are now deemed final, marking the end of ASI’s 80-year run in the regional market.

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A Local Legacy: Virginia Furniture Company Retires After 86 Years

While corporate struggles took down the national chains, a different story unfolded in Norfolk. The Virginia Furniture Company, a locally-owned pillar of the community since 1939, officially closed its doors on Granby Street.

Unlike the bankruptcy-driven closures elsewhere, this departure is personal. Owners David and Jeff Laibstain announced their retirement, ending a multi-generational family legacy that spanned eight decades. Founded by brothers Harry and Leonard Laibstain, the store was a founding member of the NEON District’s commercial identity. Final liquidation sales concluded in early 2026, leaving a significant vacancy in the heart of Norfolk’s arts and design corridor.

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Beyond Furniture: More Hampton Roads Closures

The "retail winter" of early 2026 isn't limited to home decor. Several other neighborhood favorites in the Hampton Roads area have also recently shuttered:

• Feather 'n' Fin: The longtime local chicken institution suddenly closed multiple locations in Norfolk and Virginia Beach at the end of December 2025, catching many regular patrons by surprise.
• Smartmouth Brewing Co.: The craft beer pioneer closed its original Norfolk location in the Chelsea neighborhood. While the brand remains active at its "Pilot House" in Virginia Beach, the loss of the original tasting room marks a somber moment for Norfolk’s local brewery scene.

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The Retail Transition

The simultaneous loss of these businesses—ranging from nearly century-old family shops to modern craft staples—highlights a broader transition. As consumer habits lean further toward digital platforms and niche experiences, the era of the massive regional furniture showroom and the traditional neighborhood storefront is evolving. For many Virginians, the start of 2026 is a time of nostalgia as these familiar landmarks fade from the map.

Would you like me to look into the future plans for any of these specific vacant properties to see what might be moving in to replace them?

Norfolk furniture store to close

This video provides a local news report on the historic Virginia Furniture Company in Norfolk, detailing its 86-year history and the owners' decision to retire.

Virginia News