CHARLOTTE, N.C. -- Savvy Spaces, a pair of furniture stores that opened last year, is closing, the retailer announced last week.

The company is holding a going-out-of-business sale to liquidate current inventory. The owners, who also operate Ashley Furniture HomeStore locations, said they are closing the Savvy Spaces locations to focus on their Ashley Furniture business.

We ve enjoyed wonderful growth in sales at Savvy Spaces, but in the end, we had to choose between our two brands. As owners, we simply don t have the time to oversee and properly manage both companies, said Charlie Malouf, in a statement. He co-owns the stores with Jonathan Ishee. They're in the midst of opening a new Ashley location in Raleigh.

Furniture, clocks, rugs, bedding and other goods are all discounted now at both locations, in Pineville and the Northlake area (The Pineville location was in a former Boyle's furniture store). Rugs are 65 percent off, mattress sets over $499 are $100 off, and accessories are 50 percent off.

No final closing date has been set, and an employee said the stores will remain open until they're sold out.

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