Archive for February, 2009
February 28th, 2009 at 07:27am
Under Furniture News
The Great American Group was the winning bidder to handle the liquidation of the bankrupt Fortunoff. All that is left is for the judge for the U.S. Bankruptcy Court in the Southern District of New York to approve the results of the auction.
None of the details or terms of the bid have been disclosed. There have been several objections made to the sale and the process of the auction. Some of these objections were been filed by unsecured creditors. Fortunoff, a home furnishings and jewelry retailer filed for Chapter 11 earlier in the month.
By slone
February 27th, 2009 at 07:13am
Under Furniture News
The Swedish based furniture company Ikea, announced Monday that it will be donating $48 million to UNICEF. The money will be used to support programs ran by UNICEF that are aimed toward improving the health and survival rates of millions of children and women in India’s most impoverished areas.
The generous donation makes Ikea the largest corporate partner of the organization with a grand total of commitments reaching over $180 million. The corporate sponsorship comes at a time when the economy is in a major downturn globally.
A partnership was created with the government of India, UNICEF and Ikea in 2000 that was geared towards the problems with child labor, lack of access to a good education and the ill health and disability of the country. This one program succeded in giving 80,000 children and education and provided immunizations for 140,000 children and around 150,000 women.
Ikea’s latest donation will be used to help provide support for state programs that are geared toward combating the high mortality rates facing children and mothers and enhancing access to good nutrition for the countries children. Some of the money will also help health projects, sanitation and improve on clean water.
By slone
February 26th, 2009 at 02:59am
Under Furniture News
Attendance at this month’s Las Vegas surpassed their July event by over 50 percent! The addition of the educational concierge was a big success and many of the market attendees took advantage of the benefits. Around one third of the educational seminars offered at the market exceeded capacity.
The concierge was a joint venture between the World Market Center and WHFA and aided market goers in finding the educational seminars they wanted to attend. Buyer breakfasts were offered through a sponsorship with Crypton and Guardian Protection Products and one set of luggage and designer handbags were given away at the end of each day.
The next event will be from September 14th through the 17th when the Retailer Resource Center will once again be open!
By slone
February 25th, 2009 at 07:47am
Under Furniture News
Kelly Rentals in Virginia and North Carolina is getting a new name! The Danville, Virginia based company has signed an agreement with Aaron Rents that will convert the 23 stores to the franchised Aaron’s Sales and Lease stores.
With the overlap in the two territories, there will be several account mergers, dispositions and acquisitions leaving Kelly’s operating 3 stores in North Carolina and 15 across Virginia. A development agreement between the two companies will result in the opening of 3 more Aaron’s over the next few years.
Kelly’s celebrated their 25th anniversary last month and Aaron’s has commented that their expertise and knowledge will be a great asset. Aaron Rent’s is based in Atlanta, Georgia and has over 1,557 stores located throughout the 48 states and Canada.
By slone
February 24th, 2009 at 10:15pm
Under Furniture News
Ethan Allen, one of the largest employers in northern New Hampshire has announced that it will be cutting over 100 jobs at plants in Beecher Falls and Orleans Vermont. Over half of the workers at the Beecher Falls plant reside in New Hampshire.
The total amount of cuts is expected to be 110 jobs, 70 from the Beecher Falls plant and 40 from the company’s plant in Orleans. Of the 70 employees from Beecher Falls, 50 are from New Hampshire!
The company stressed that it has waited as long as they could in making any decisions to cut jobs. And, stated that the industry had already been greatly affected even before the economic downturn.
By slone
February 22nd, 2009 at 03:50am
Under Furniture News
Owners of Norwalk Custom Furniture were very pleased with the reception they received at the new company’s first market in Las Vegas. Norwalk opened both new and international accounts and will be sending some products to the Dominican Republic.
The new company has held on to the best products of the old company and are building a reputation of their own. The new owners of Norwalk Custom Furniture have had to prove to customers that the manufacturer has returned to a stable, trustworthy company with the problems faced by the original owners.
The Las Vegas market gave the company the opportunity it needed to get it’s foot back in the industry. Norwalk has made a committment with a 5 year lease at the International Home Furnishings Center in High Point. And, has the popular Olson line under contract until 2010.
By slone
February 21st, 2009 at 11:38pm
Under Furniture News
Furniture retailers and manufactures traveled to Washington recently to urge members of Congress to prioritize policies that will boost both consumer purchases and lending. They also requested that the lawmakers avoid regulations that would disrupt relations in the workplace and increase costs.
The group included representatives from Furniture Brands International, American Home Furnishings, National Home Furnishings and Ashley Furniture as well as several others. Earlier in the month another group led by John D. Bassett III, traveled to Washington to discuss health care revisions included in the stimulus bill.
One of the new revisions would require that employers offer to cover terminated employees that were 55 and over, with COBRA until they reached 65 or found another job with comparable health insurance. Another revision, would require the exact same coverage for any employee that had ten years of service and were terminated.
Lawmakers have expressed their desire to keep the furniture industry strong by supporting efforts and developing policies that are good for America. The group will meet with lawmakers again in May when they will be part of the midyear board of directors meeting in Washington.
By slone
February 20th, 2009 at 10:56pm
Under Furniture News
Spring Air has announced it will be opening a 351,000 square foot plant in Durant, Oklahoma this summer. The new facililty will be the largest manufacturing plant in the entire country.
The plant is expected to provide new jobs for as many as 300 employees! The site was chosen because it had good access to the interstate highways and will allow the company to better serve it’s Midwest customers.
The company said the new plant represents an investment of $30 million, some of which will be defrayed with government incentives. The new state of the art plant will get Spring Air products a little closer to their many customers in the region.
By slone
February 14th, 2009 at 07:54am
Under Furniture News
Even in a time when the economy isn’t looking so good, Ikea is opening yet another store. The Charlotte North Carolina store will be the 36th store in the U.S. chain. This store will be their fifth store in the Southeast with another one set to open in Florida later this summer.
The enormous 35,000 square foot store has 49 room setting and will also include 3 model home interiors. Officials with Ikea say that they are hopeful the store will do well even though other stores have been unable to withstand the economic slump.
The company had been planning the new store for the past three years and decided to stick with the expansion regardless of the economic situation. Ikea’s sales in the United States reached over $3 billion in 2008, a jump of just over $2 billion from the previous year.
The Charlotte store will employ over 400 people and offers furniture and furnishings for every room, home office furniture, mattresses and even fabric and leather upholstery. A work area will be available for customers to design some pieces of furniture with their choice of styles and finishes.
By slone
February 13th, 2009 at 10:46pm
Under Furniture News
Ethan Allen will be making select layoffs at several of their sites, including the company headquarters located in Danbury, CT. The company didn’t release the exact numbers of employees that would be affected by the cuts, but did say that no site was being singled out.
The employees that will be losing their jobs, will be offered a severance package by the company. Sources say that at least 60 people at the corporate headquarters alone will be without jobs soon. Employees had heard rumors of the companies intention to cut back on the work force for weeks.
By slone
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