In many ways, San Francisco’s downtown is in dire straits. The city’s Union Square neighborhood once bustling with shoppers, diners, and tourists has suffered from declining foot traffic and shuttered storefronts.
Mitchell Gold + Bob Williams, which grew from a small North Carolina-based upholstery maker to a national retail furniture chain, is shuttering operations, citing weak sales and trouble securing financing. It’s the latest retailer hurting from sluggish sales as consumers pull back on spending.