HUK 121, a division of the British private investment company Hilco Capital, has agreed to acquire Canadian office furniture manufacturer Inscape. HUK now owns a portion of Inscape. On December 23, 12.6 million common shares—or about 88% of the company’s outstanding common shares—were deposited to HUK. Just $88,631 was the […]
Furniture News
SAs part of the Furniture for Families initiative, top 100 retailer Levin Furniture & Mattress collaborated with KDKA talk show host and investigative reporter Marty Griffin to donate $5,000 worth of furniture to three families. Levin gave three local families $5,000 in furniture along with a $500 gift card to […]
The extreme demand the furniture industry saw due to the COVID-19 pandemic seems to be all but a distant memory as economic conditions deteriorate and concerns about a recession rise. Right now, the abrupt decline in demand is a problem. Retailers placed numerous furniture orders when demand was high and […]
By Powell Slaughter, Contributing Editor 2023 will present additional planning difficulties for furniture retailers due to the pandemic’s lasting effects on the supply chain and production as well as shifting consumer purchasing patterns. Many retailers will start the new year still shedding higher-than-average inventories. Plus, most retailers’ most expensive inventory […]
Shannon Lookabill was appointed vice president of product development at Universal Furniture, and Neil MacKenzie was named senior vice president of marketing, both positions taking effect in January. 1, 2023. “Our goal is to be the easiest company to work with,” said incoming president Sean O’Connor. “The promotions of Neil […]
In a sign that the labor market is refusing to buckle under the weight of higher interest rates and a cooling economy, a better-than-expected 263,000 jobs were added in November, the Labor Department reported on Friday. The figure exceeded predictions of 200,000, and October’s estimate of 261,000 was revised upward […]
While many suppliers’ concerns about ocean freight are subsiding, difficulties with moving freight inland are getting worse. Ocean freight rates have significantly decreased from their pandemic peak, though they are still significantly higher than pre-pandemic levels. Last week’s average spot rates were $2,404 per container, which is 77% less than […]
LAS VEGAS – Malouf Home is expanding its Las Vegas showroom at World Market Center by nearly 6,000 square feet, enabling the business to better highlight its broad product assortment and expansion in the furniture sector. With the addition, the showroom now has a square footage of over 40,000. The […]
OXFORD, Miss. — Former employees of United Furniture Inds have added another lawsuit to their portfolio., parent company of Lane Furniture, following the company’s closure on November 22. The new lawsuit seeks to file a class action lawsuit on behalf of all former employees while alleging violations of the WARN […]
Former Weir’s Furniture president, Daniel “Dan” The month of November saw the death of Ray Weir, 86. 19 in Dallas. Son of founder J. From 1972 to 2003, Ray and Bea Weir led the retail company as president. Weir oversaw the company’s first move from its original store on Knox […]
Furniture Express by Brooks announced today that it has acquired Shelba Johnson Trucking. The new combined company will be based in Newton, North Carolina, and run under the name Brooks Furniture Xpress. Shelba Johnson Trucking’s CEO and owner, Joe Wade, will stay on to help with the transition while the […]
A former employee of Lane Furniture has filed a lawsuit against the business for abruptly closing down and firing 2,700 of its employees via emails and texts sent overnight without adhering to federal WARN regulations. here in the United States, the lawsuit District Court for the North District of Mississippi […]
The home furnishings industry has been rocked by the sudden closure of Lane this week. Retailers who carry the brand are attempting to determine how to reduce their floor assortments and other factors. “They were a reliable partner for Darvin. That makes it even more of a shock,” said Will […]
The Lane furniture brand is operated by United Furniture Industries, which reportedly fired all of its employees. Unified Furniture Industries has terminated all employees. With the exception of over-the-road drivers who are currently out on deliveries, all employees of the company—which has recently operated under the Lane brand—were immediately terminated […]
Q3 sales and comps fall The abrupt departure of former CEO Michelle Gass last week, the recent decline in sales, the unpredictability of the macroeconomic environment, and Kohl’s revised its full-year guidance downward. Kohl’s also discussed changing consumer behavior, its inventory plans for 2023, and the qualities it is looking […]
Casper Sleep, a company that sells mattresses directly to consumers, has arranged a $80 million line of credit with the help of Second Avenue Capital Partners and Tiger Finance. Casper will use the funding to settle its current credit facility and meet its ongoing working capital requirements. Casper was established […]
Williams-Sonoma, Inc., a top 100 retailer posted another strong quarter with gains in net revenues, income and earnings per share, led by its brands Pottery Barn and West Elm. The San Francisco-based company’s net income for the three months ending in October was $2.193 billion. 30, up 8.1% compared with […]
The Port reported that a lot of shippers imported goods well in advance of peak season. The Port of Los Angeles saw its lowest cargo volumes since 2009 in October after declining by 25% from the same month in 2021. According to port director Gene Seroka, the decline was caused […]
At Atlanta Market for January, more than 350 design-driven whole-home showroom offerings are expanded by new resources in accent furniture, one-of-a-kind, vintage, textiles, pillows, and more. 10-16, 2023. New resources are added to the more than 300 showrooms in AmericasMart Building 1 that feature lighting, accent furniture, rugs, wall decor, […]
The news was revealed on November by the St. Louis-based retailer. 15. To handle the liquidation and closing-out sales, it is collaborating with Planned Furniture Promotions. It will shut down its five St. St. Louis region, two in Indianapolis, and one in Springfield, Missouri., store. The closeout events don’t have […]
