Bad News For Stanley Furniture

Posted by MCC on October 22nd, 2007 at 12:36am

83 year old company Stanley Furniture has announced bad news for it’s 3rd quarter profits which has resulted in the companies stock dropping to the lowest point in 4 years.

Stanley Furniture announced that it would be laying off nearly 250 workers as part of it’s efforts to consolidate some of their manufacturing plants.

The Chairman of Stanley Furniture Jeffrey Scheffer has said that the company does not expect any improvements in the near future and has lowered their expectations for the remainder of the year 2007.

Under Furniture News