Virginia's Rowe Cos., failing to secure a buyer, announced it will close its Storehouse home furnishing stores at the end of the year.

A going-out-of-business sale began at all of the approximately 70 stores in the chain, which has inventory of about $60 million, the Washington Post said Saturday.

Rowe had been trying to sell its Atlanta-based Storehouse, worth between $17 million and $19 million, in whole or in part for several months, the Post said. The company has had talks with several potential buyers, but nothing happened by Thursday's deadline.

Rowe filed for Chapter 11 bankruptcy protection in September, saying it wanted to focus on its manufacturing business. Rowe also runs Rowe Furniture Inc., which makes upholstered furniture for the middle and upper-middle markets.

When filing for bankruptcy protection, Rowe listed $93.2 million in total debt. The company lost $5 million during the second fiscal quarter that ended in May and third quarter results are due next week, the Post said.