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Top 10 manufacturer stories in 2022 by page views
1. Update: Details emerge on Lane’s termination of all employees (11-22-2022)
United Furniture Inds. has terminated all employees. The company, which has operated under the Lane brand in recent years, sent two letters to employees just two days before Thanksgiving.
- Lane’s owner speaks for the first time since abrupt closing (12-13-2022)
- Lane shuts down, all employees terminated (11-22-2022)
- United Furniture closing: Savvy recruiters jump on opportunity (11-22-2022)
- Lane lawsuits have begun. Employee filing alleges WARN Act violation (11-23-2022)
- Former Lane president reaches out to terminated employees via social media (11-28-2022)
2. Will Serta Simmons file for bankruptcy protection by January? (12-14-2022)
Mattress major Serta Simmons Bedding could file for Chapter 11 protection under the U.S. Bankruptcy Code as early as January, according to a news report from Bloomberg.
3. Could Russian hardwood plywood supplies be impacted? (3-9-2022)
In 2019, the United States sourced at least 10% of its hardwood plywood from Russia, according to wood flow resource blog TimberCheck. And that number has grown over the past three years.
4. Mattress maker Serta Simmons closes 3 factories in 3 states (7-5-2022)
During (April, May and June), bedding producer Serta Simmons Bedding has filed at least three WARN Act notices announcing plans to close factories in Virginia, Iowa and Kansas.
5. Ashley announces price ‘roll backs’ on imports (3-25-2022)
Ashley Furniture Inds. is cutting prices on most of its imported furniture, the company announced to its dealers via a letter on March 25.
6. Vanguard buys former Drexel plant in North Carolina (-11-2022)
Vanguard Furniture has acquired a former Drexel Furniture manufacturing plant in Morganton, N.C. Known locally as Drexel Plant #60, the 163,000-square-foot factory will be restored, refurbished and stocked with new equipment.
7. 3 key financial facts from Corsicana Mattress’ bankruptcy filing (6-26-2022)
Mattress manufacturer Corsicana Mattress Co. and 11 connected companies have filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code, and the filing offers an inside look at the company’s struggles.
8. Why one North Carolina furniture manufacturer took the direct-to-consumer plunge (7-31-2022)
A new direct-to-consumer furniture company, Mantle Furniture led by Adrian Parker and Kim Mcree, has launched in the heart of North Carolina’s furniture country, and third-generation industry veterans are at the helm.
9. Luxury furniture brand Marge Carson acquired (10-17-2022)
Marge Carson CEO Jim LaBarge chooses successor to the company’s ownership after deciding to cease operations.
10. Bassett Furniture receives all-cash offer in takeover attempt (10-11-2022)
Bassett Furniture has received an all-cash acquisition proposal from CSC Generation Holdings for $21 a share, or roughly $191 million. CSC is one of Bassett’s top shareholders, with a 2% stake as of the end of June. Its offer represents a 27% premium over Bassett’s most recent closing price of $16.51.
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