SALEM — The Jeffery Brothers furniture store, a Canal Street landmark, has filed for bankruptcy.
Jeffery Brothers, which had been in business since 1932, made a Chapter 7 liquidation filing Friday in U.S. Bankruptcy Court in Boston.
The court action comes more than a year after the sudden, but not complete, closing of the store. The owners, Raymond Jr. and Charles Jeffery, had kept the business open on weekends since then.
A foreclosure auction of the property had been scheduled for last Friday, but was abruptly canceled, apparently due to the bankruptcy filing. The auction has been rescheduled for Feb. 9.
The company shut down full-time operations in 2007 due to "insurmountable debt," according to a statement issued at the time.
"With the recent passing of our mother, along with having to deal with a costly environmental cleanup of our warehouse property ... we are facing deep financial issues," the brothers stated.
In 2000, Jeffery Brothers bought the former Titus Furniture building on Jefferson Avenue and planned to move there. Eventually, however, those plans were abandoned.
The Salem News was not able to reach a spokesman for Jeffery Brothers or their attorney, Michael Dixon.
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