Daily News Archive
Brought to you by Home Furnishings Business
April 15,
2010 by in UnCategorized 
By Home Furnishings Business in on April 16, 2010
Wolf Furniture and Mattress will open a 45,000-square-foot showroom this summer in Mechanicsburg, Pa.
The store is undergoing an extensive renovation to its interior and exterior and will create about 25 new jobs once the $1 million investment is complete.
The new store will feature all the top brands customers have come to know and trust from Wolf Furniture, including La-Z-Boy, Broyhill, Sealy, Paula Deen, PA House, Smith Brothers, Kincaid, Kingsdown, Restonic and more said Gene Stoltz, vice president of merchandise. We plan on adding several new looks with an expanded selection to service a broader customer base in the market."
Wolf Furniture and Mattress was founded in 1902 and is based in Bellwood, Pa. The retailer currently operates eight full-service showrooms and one clearance, outlet store.
We are pleased to have a convenient location on the West Shore of Pennsylvanias Capital Region," said Doug Wolf, president. "Weve heard requests from customers and suppliers alike for Wolf Furniture to open a store to better serve the West Shore and Carlisle areas.
April 15,
2010 by in UnCategorized
By Home Furnishings Business in on April 16, 2010
James C. "Jimmy" Green Jr., former president of PeopLoungers, pleaded guilty Thursday to bank fraud, mail fraud and money laundering.
According to The Northeast Mississippi Daily Journal, Green misrepresented personal financial information to local banks to get personal loans. He faces a sentence of up to 80 years imprisonment and $2.5 million in fines.
In 2006, Green was accused of using a $300,000 loan from one bank to pay other banks interest on loans and to pay off one loan. All of the charges were for personal dealings and were not related to PeopLoungers' business.
Greens sentence date will not be set until a report is complete from the U.S. Probation Service. It usually takes about two months.
According to the report, Green has been ordered to maintain or seek a job, restrict travel to north Mississippi, refrain from excessive use of alcohol and participate in a substance abuse therapy and counseling.
Nettleton-based Peoploungers, which made upholstered furniture, was started in Tupelo in 1979 and filed for Chapter 11 bankruptcy protection in May 2007.
Green said at the time that the bankruptcy filing was necessary because of pricing pressures and because competition from Asia, particularly China, had cut into its business. In its Chapter 11 filing, the company said it owed its top 20 creditors about $5.7 million. It also said sales dropped from about $94 million in 2003 to an estimated $50 million.
PeopLoungers received debtor in possession financing to continue operations. The company closed in 2008.
April 15,
2010 by in UnCategorized
By Home Furnishings Business in on April 16, 2010
Jennifer Convertibles CEO Harley Greenfied has been charged with operating a motor vehicle while impaired with alcohol after his car struck and killed a security guard Wednesday night,
according to the New York Daily News and other local reports Thursday.Mohammad Rohman was crossing the Whitestone Expressway to grab a meal at a Burger King when he killed. Rohman is survived by his wife and two children.
Police sources said Greenfield stayed at the scene but refused to take a breathalyzer test.
April 14,
2010 by in UnCategorized
By Home Furnishings Business in High Point on April 15, 2010
After a 10-year hiatus, Jamison Bedding is returning to the High Point Market this week to showcase its line of hand-crafted mattresses.
The company will be showing in M-615 of the International Home Furnishings Center.
"We're extremely pleased to be rejoining this important show, and our products will reflect the uncompromising integrity and quality that have always distinguished the Jamison name," said Frank Gorrell, president. "At the same time, retailers will see early indications of where we're heading as a 21st Century company: New mattress designs, updated looks and broader, more competitive constructions, assortments and pricing. Jamison now has more to offer mattress retailers and their customers than we ever have, and this is just the beginning."
The vendor is taking a counter-pharmaceutical position that the company's products are natural sleep aids without side effects. Jamison's Oceana bed, a new, all-foam Talalay Latex Collection and several new models in the luxury Hypnos Stadia line, as well as a redesigned, two-sided Vitapedic innerspring line, will round out the company's offerings.
April 14,
2010 by in UnCategorized
By Home Furnishings Business in economic news on April 15, 2010
March retail sales increased 0.9 percent seasonally adjusted over February and 5.7 percent unadjusted compared with March 2009, the National Retail Federation said in a Wednesday report.
Furnishings and home furnishings stores outpaced that growth, rising 1.5 percent (adjusted) from February, and 6.5 percent unadjusted year-over-year.
"It's evident consumers were feeling much better about the economy and their finances last month," said NRF Chief Economist Rosalind Wells. "Pent up demand combined with an early Easter and warm Spring weather significantly boosted consumers; moods and retail sales."
Stores that sell apparel, home goods and outdoor equipment and furniture also saw big increases. Clothing and clothing accessory stores sales increased 2.3 percent seasonally adjusted month-to-month and 9.9 percent unadjusted year-over-year. Building material, garden equipment and supplies sales increased 3.1 percent seasonally adjusted over February and 3.3 percent unadjusted from last year.
Sporting goods, hobby book and music stores sales were also solid with seasonally adjusted sales increasing 1 percent month-to-month and 9 percent unadjusted year-over-year.