Neighborhood Goods raised $25.6M to reinvent retail — it went dark on its own vendors

Dallas-based Neighborhood Goods launched in 2017 with the pitch of building 'the department store of the future,' rotating curated brands through four physical locations in Plano, Texas; Austin; New York City; and Newport Beach, California, after raising a total of $25.6 million. Like rival Showfields, it charged brands for placement and rotation rather than buying and reselling their inventory outright.

By spring 2023, vendors displaying products in Neighborhood Goods stores said they had stopped receiving payments, with communication from the company becoming minimal to non-existent. In April 2023, a lease-termination notice was spotted on the flagship Austin store, an early public sign of trouble the company itself never announced.

Both Texas locations closed in early January 2024, and the business shut down entirely later that month — without a formal public announcement, brands were left trying to recover money the company owed them. The closure came within weeks of Showfields, a direct competitor running the same fee-for-display retail model, also going out of business.