businessRetail

Wisteria is going out of business 2 years after its Dallas founders sold the home furnishings company

The company was founded in Dallas 20 years ago as a catalog and was sold two years ago to a London-based company.

Wisteria, a home furnishings store with a strong local following, is going out of business.

The company, which operates a store in Inwood Village in Dallas and an outlet store on Midway Road in Farmers Branch, announced the closing on its website Monday without an explanation. Wisteria reopened a few weeks ago, but then abruptly switched to a going-out-of-business sale.

Wisteria founders Andrew and Shannon Newsom sold the company to U.K.-based OKA Direct Ltd. in September 2018. The plan was to expand the Wisteria brand. A third store opened in Houston.

The company’s website said it’s “unable to predict an exact closing date for our website and stores.”

The website instructs shoppers to shop online or in stores, adding that customer service would not be taking special orders.

At the time of the sale, the Newsoms called the new owners “a great match” for their business. Andrew Newsom said the owners of both companies knew of each other and often found themselves at the same vendor shows.

But the pandemic has crippled many businesses that were forced to close for a couple of months.

Plus, home furnishings has become a tough category with a lot more online competition in recent years. Fort Worth-based Pier 1 Imports is already in the process of shutting down its stores.

The closing will leave a 7,000-square-foot space open at Inwood Village, a popular shopping center that’s surrounded by upscale neighborhoods. The center has three other home furnishings stores — Mary Cates and Co., Mecox and Quatrine — and “has enjoyed a high renewal rate,” said Monte Stratton, the property manager for Inwood Village. “Once they come, they tend to stay.”

“Wisteria was doing fine” before the pandemic, Stratton said. “We liked having them them here.” Overall traffic to the shopping center had picked up during the past three weeks, but this week has tapered off. That’s not unusual during the summer, when area residents depart for their vacation homes, he said.

Twitter: @MariaHalkias

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Maria Halkias, Staff writer. Maria Halkias has covered the retail scene for The Dallas Morning News since 1993.

mhalkias@dallasnews.com /maria.halkias @MariaHalkias Instagram Iconmariahalkias LinkedIn Iconhttps://www.linkedin.com/in/MariaHalkias
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