Razmataz Unique Home Furnishings is closing its five stores in Arizona, including one in Oro Valley, the company announced in a news release Friday.

The stores' inventories are being liquidated.

Razmataz first opened in Phoenix in 1996. Its Tucson store at 7745 N. Oracle Road opened in 2007.

The stores carry high-end furniture. The other shops are in Scottsdale, Gilbert, Chandler and Glendale.

J. Bart Bates, president and CEO of the company, would not comment on the reason for the closures.

An advertisement in Friday's Arizona Daily Star said the stores have $7 million worth of furniture in stock.