Archive for September, 2008
September 30th, 2008 at 05:04am
Under Furniture News
Norwalk Furniture’s hope for a reprieve through investors still isn’t a signed deal. With an $11 million dollar outstanding debt balance, Norwalk’s only hope for survival is through reaching an agreement with investment groups or individual investors.
The company was negotiating a deal with two equity firms, allegedly they’d planned on buying the company. But, the two private firms have pulled out and they’re no longer even discussing the deal.
Norwalk has turned to a local group in hopes of getting investors for the default company. Talks have just begun and depending on the progress it could be days or weeks before any type of agreement is reached.
In the meantime, stories of deals and investors saving the company are keeping the laid off employees on a roller coaster ride. A company spokesman said that getting the company up and running again is top priority for the entire community.
By slone
September 29th, 2008 at 05:14am
Under Furniture News
Ashley Furniture announced that it will be reducing employees by 5% at their Ripley and Ecru Mississippi plants. The layoff will add up to around 2oo employees that will be left without jobs.
One of the largest furniture makers in the nation, Ashley Furniture employees approximately 3,500 people. The lag in sales has meant drastic moves for the company to remain competitive.
While the real estate market is hurting a lot of business’, the furniture industry has been hit hard with slumping sales. The state of the economy and rising fuel prices have forced consumers to cut back on unnecessary purchases.
Ashley Furniture finished up last year with around $3 billion dollars in sales. The total put them in the first place as the United State’s top furniture seller.
By slone
September 27th, 2008 at 03:12pm
Under Medical Furniture
Mobility is often important in any business, but it’s especially important in the medical field. If your patient is unable to move from room to room, or if it’s just too inconvenient, a fusion cart can allow you to take equipment to them.
A diagnostic fusion cart will hold your computer CPU, monitor and keyboard or laptop on one easy to move station. They’re even great for any other type of medical equipment you need to have mobile.
The diagnostic fusion cart is made to be sturdy and reliable. All of your equipment will lock securely in place so that everything is safe when you need to relocate the cart.
Fusion carts are also very compact so that you don’t need a lot of room to maneuver it through hallways or into examining rooms. And, the built in handle makes it easy to turn corners. The easy adjusting components makes it customizable for each individual user to provide comfort.
By slone
September 26th, 2008 at 05:46am
Under Furniture News
Although a slump is in the forecast, orders for office furniture were up by 1% in July when compared to last years total. Even though the percentage may seem low it added up to a $940 million dollar boost in office furniture sales.
The Business and Institutional Furniture Manufacturers group has predicted a drop in sales ranging between 2.4 and 3.9 percent for yearly totals. Next years outlook is even dimmer with the group estimating more than a 10% drop for 2009.
While many companies specialize in office furniture, many more depend on both business and home sales for their profits. And, with the housing slump taking it’s toll on home owners shopping for new furniture, they’re expected to see a drop in sales on both sides.
The drop in sales isn’t expected to match the decline that was seen in 2001 to 2003, however in the sagging market, any drop can create financial problems. Numerous companies have already surrendered to the failing economy and if the prediction for the next year is correct, many more may be seen closing their doors.
By slone
September 24th, 2008 at 05:28am
Under Furniture News
Amidst all of the recent layoffs and business closings, Michigan is finally getting some good news. Around 900 jobs will be opening up in the Grand Rapids area and a dozen will be available in Kalamazoo.
Bravata, a financial planning group has already hired 8 employees and expects to hire close to a dozen more over the next year or so. And, Genesis Seating and Davidson Plyforms both office furniture companies will be adding almost 200 more jobs to the area.
Other jobs will be in the life science field as Sequenom Inc. a San Diego based company plans to open a lab in Grand Rapids. The lab is projected to bring over 500 jobs to the town by 2013.
The Grand River Polishing company based in Spring Lake also has plans to add around 57 more jobs. These companies will be creating around $37 million in new investments for the state.
By slone
September 23rd, 2008 at 05:49am
Under Furniture News
Employees that were laid off from Norwalk furniture in Ohio have now been told that the layoffs are permanent. Two different groups are interested in purchasing the failing company. But, employees will have to be rehired if they want their jobs back.
Norwalk’s line of credit was pulled in July when Comerica stopped funds. A total of 870 employees, which consisted of 300 in Mississippi and over 500 in Ohio were laid off. The company recalled around 300 employees to finish up on orders, but were off the job again when two of the companies partners pulled out.
Although, talks are in the works for a sale, Chairman Jim Gerken said that they intend to pursue buyers for the company. The hope is to get the employees back to work and meet the needs of customers.
By slone
September 21st, 2008 at 05:06am
Under Furniture News
While rumors abound of Samson Holding’s intention to purchase a major American company, Samsom denies the allegations. One of the rumored companies is Broyhill Furniture Inds.
When asked about the planned acquisition by the Hong Kong Stock Exchange, Samson replied that there are no plans or negotiations. Making a big leap, the companies shares jumped over 41% this week, an increase that Samson claimed to have no explanation for.
Furniture Brands International owns Broyhill Furniture Inds. which is a major company in the United States. Samson holdings include Lacquer Craft Mfg. which owns several business’ based in the U.S. including Craftsmaster and Legacy.
By slone
September 19th, 2008 at 11:15pm
Under Furniture News
A new distribution center for Kathy Ireland Home will be ready for business by November in Lexington North Carolina. The company is based in San Diego and was formerly known as Martin Furniture. The company has been manufacturing furniture under the Kathy Ireland brand since it bought the license in 2003.
The furniture is manufactured in Mexico, with some of the items being imported from China. Orders are shipped from both the San Diego center and China. The new center will speed up the time in which customers on the East Coast get their items.
The collections that were originally offered by Martin Furniture will still be available at the new center. With all of the furniture plants being forced to close their doors due to the slow economy, the distribution center will be a welcome addition.
By slone
September 17th, 2008 at 08:12pm
Under Medical Furniture
Wall mounted computer stations are the perfect additions for examining rooms. While they take up very little space, you can still have your computer close at hand. The best advantage to wall mount stations is that they don’t require any floor space at all when used with a laptop or a wall mounted CPU case.
They will virtually fit in any location requiring only 2 foot of wall space. Examining and testing rooms are often small to begin with, but once the necessary equipment such as an examining table, stool and counter is added, there is even less room.
With a wall mounted unit, you’ll have more space for wheel chair access and more space for patients to move around in. It’s a great way to make use of wall space that is often left bare.
By slone
September 14th, 2008 at 04:13am
Under Furniture News
La-Z-Boy is introducing a new line of green furniture. In an effort to meet customer demand for more eco-friendly products, the company will be offering their EcoComfort line. The new line will feature soy based cushions and be made with fabrics that are better for the environment.
To provide a wide selection of choices for customers, La-Z-Boy will be adding 22 fabrics to the line. Five of the fabrics will be a man made suede and be manufactured utilizing recycled plastic bottles to reduce both pollution and waste.
The new EcoComfort line will be arriving everywhere La-Z-Boy furniture is being sold this summer. The new eco-friendly fabrics will be available on every piece of furniture that the company sells.
By slone
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