After more than 70 years in one eastern Iowa city, a furniture store is preparing to close.

Simpson Furniture owner Dale Emmert said in a weekend press release that the company will be selling off around $4 million in inventory in the next two to three months before closing. The release went on to say a national furniture retailer will be taking over the Simpson showrooms in Cedar Falls and Coralville. The national retailer wasn't named.

Emmert also said in the release that he, and his wife Deb, will be involved in the new venture and that no one will be losing their jobs. In fact, additional employees may need to be hired.

Simpson Furniture originally opened a location in Cedar Falls in 1946. The current store in Cedar Falls is located at 2300 Main Street. The Coralville location, which opened in 2009, is located at 2300 Jones Blvd.