Why was the John M. Smyth Homemakers furniture store closed?

John M. Smyth Homemakers furniture store closed in 2015 because of the increasing competition from other furniture specialty retailers and larger discount stores such as Target, Costco and Wal-Mart. The John M. Smyth Homemakers store opened in Chicago in 1867 and closed nearly 140 years later in 2015.

When John M. Smyth died on August 7, 2000, the furniture business declined rapidly. The highly revered Mr. Smyth was the third-generation owner of the eight-storey family-owned store. The store's popularity waned in the years following Mr. Smyth's death when none of his family members stepped into an ownership role in the company.