YOUNGSTOWN, Ohio - After 112 years of business, Goldsteins Furniture has decided to close.

The company announced this Friday, saying that "it was time to make the tough decision."

Steve Goldstone, the president and CEO of Goldsteins Furniture, explains that they needed to expand the business but were "landlocked" by competitors.

He says he also knew other furniture stores were coming to the area.

 "After weighing all the options, we determined we couldn’t weather the storm and have decided to cease operations," Goldstone said.

Close-out sales are set to begin at the Boardman, Hermitage and Niles locations in June. 

All three stores will be closed by September. 

“My sincere appreciation goes out to our many associates, especially employees whose families have been with us for three and four generations. Words can’t express the gratitude I have for them and the thousands of families who welcomed us into their homes through the years," Goldstone said.

Myer Goldstein started the business in 1906.