Daily News Archive
Brought to you by Home Furnishings Business
September 24,
2006 by in UnCategorized 
By Home Furnishings Business in High Point on September 2006
The High Point Market Authority will be hosting two buyer’s lounges at next month’s market to serve the diverse and changing needs of its retail attendees.
Buyers from around the globe can take advantage of the International Buyer Center on the 5th floor of Showplace. Designed with the international business traveler in mind, the comfortably furnished space will offer all the usual business amenities—Internet access, fax and copier machines and satellite news feeds—paired with a full complement of travel and concierge services, as well as a prayer and meditation room. Open daily from 8 a.m. to 7 p.m., the International Buyer Center will offer coffee in the mornings and lunch will be served daily from 11:30 to 1:30 p.m., beginning Monday, Oct. 16 through Sunday, Oct. 22.
“The new International Buyer Center has been created to welcome retailers from other countries and ensure that their visit to High Point Market is both thoroughly productive and enjoyable,” said Tammy Covington Nagem, vice president of operations for the High Point Market Authority. “The International Buyer Center is designed to be a place to regroup and rejuvenate, as well as a resource for the market’s world travelers. Our concierge can assist with reservations for airlines, hotels, rental cars and local restaurants, foreign currency exchange, post-market travel plans, local area information and more.”
In addition, the Market Authority is co-sponsoring a buyers lounge for domestic retailers on the first floor of the Suites at Market Square. The lounge offers telephones, cell phone and Blackberry chargers, Internet connection, fax and copy services. The lounge will offer breakfast, lunch and cocktails daily, from 7:30 a.m. to 7 p.m., beginning Monday, Oct. 16 through Sunday, Oct. 22.
Both retailer reception spaces will also feature boards displaying invitations to market events. Exhibitors and industry associations interested in posting invitations in either the International Buyer Center or Buyers Lounge should forward invitations to the attention of Tammy Covington Nagem at the High Point Market Authority, 101 S. Main St., Suite 801, High Point, N.C., 27260, no later than Oct. 9.
September 21,
2006 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on September 2006
Storehouse, part of the Rowe Cos. that filed Chapter 11 earlier this week, is set to be sold at auction Oct. 6.
If a buyer isn’t found, the bankruptcy court has ordered that the chain be sold or liquidated.
The 69-store retailer also sells to consumers online through its Web site and via its catalog.
“We are actively engaged in securing an ongoing strategic partner to continue the Storehouse brand and its 37-year history of making good design accessible,” says Caroline Hipple, Storehouse president. “Our management team is in discussion with several investment bankers to secure financing for a new vision with new partners.”
The U.S. Bankruptcy Court gave Rowe interim approval of a $50 million secured debtor-in-possession facility provided by GE Capital. The facility includes the payment of GE’s pre-petition secured loans to Rowe, and requires the company to conform to a budget. The facility also dictates the sale or liquidation of Storehouse.
A hearing to approve the DIP facility on a final basis is set for Oct. 13.
Also in first-day motions, the court said the company could continue paying employees and benefits. Rowe was also authorized to honor customer deposits and continue its customer service programs.
“We are very pleased with the court’s approval of the DIP financing and the rest of the first day motions presented by Rowe,” said Jerry Birnbach, president and chief executive officer. “Having secured DIP financing, we will be able to move forward with business operations and continue providing our customers with quality products. In addition, we are optimistic that the DIP financing will offer assurance to our vendors and suppliers that they will be timely paid for post-petition services as we complete our restructuring process. The court’s approval of the first day motions will also enable Rowe to honor critical employee and customer obligations, while continuing normal business operations without interruption.”
September 21,
2006 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on September 2006
Pier 1 Imports disclosed in a filing with the Securities Exchange Commission that it has entered into confidentiality agreement with Iceland-based Lagerinn ehf.
News of the agreement sent the specialty retailer’s shares climbing 8 percent under heavy trading. Pier 1 said the confidentiality agreement was reached on Tuesday in connection with Lagerinn’s consideration of a “possible negotiated transaction” with the company.
Under the agreement, Pier 1 will provide Lagerinn with certain evaluation materials.
In March, the retailer agreed to sell certain assets in the United Kingdom to U.K. to Palli Ltd., a division of Lagerinn. At that time, Pier 1 said Lagerinn and Jacobsen beneficially own about 9.9 percent of its common stock.
Pier 1 hired JP Morgan in May to assist in seeking strategic alternatives.
September 21,
2006 by in UnCategorized
By Home Furnishings Business in Las Vegas on September 2006
The World Market Center announce Thursday that it has named trade show and hospitality industry veteran Michelle Monteferrante show director of the Las Vegas Market. She replaces Briana Mackey, who recently moved to Australia, and will start work with the WMC Oct. 2.
Monteferrante will be responsible for planning, logistics and implementation of all operations related to the home furnishings markets. She will also work closely with the rest of the management team on launching new events and event segments.
Monteferrante, a Las Vegas native, came to World Market Center from The Freeman Cos., a general services contractor to the trade show industry, where she most recently served as national sales manager for Las Vegas. Freeman was the general services contractor for Las Vegas Market’s January and July 2006 markets at the Mandalay Bay and Las Vegas Convention Center, respectively. Monteferrante was the executive in charge of these events for Freeman, and accordingly has extensive hands-on knowledge of Las Vegas Market.
Her industry background also includes sales management positions with Freeman Decorating, the Sands Expo Center, Hotel Nikko and Sheraton Hotels.
A graduate of the University of Nevada Las Vegas, Monteferrante is a member of the International Association of Exhibition Management and is currently completing her certification for exposition management.
“World Market Center is exceedingly pleased to have Michele Monteferrante as a new member of our team,” said Gerry Sawyer, chief operating officer for World Market Center, adding that WMC executives have enjoyed working with Monteferrante as a valued vendor partner for Las Vegas Market.
“We all hold Michelle in high regard,” Sawyer said. “Michelle’s more than 20 years experience in the trade show industry and her incredible base of contacts here in Las Vegas will be a huge asset to World Market Center. Michelle has a dual perspective on the industry having managed a number of the top shows and conventions from the general services contractor side. We firmly believe she will further enhance the Las Vegas Market experience for exhibitors and attendees alike.”
Monteferrante said she is excited about her opportunity at WMC, and that past management set the stage for the Las Vegas Market’s continued success by making it a world-class event.
“I see it as my role to build upon this success and elevate the Market’s position through strategic planning and the forging of strong new relationships,” she said. “I am confident that all of my years as a general services contractor for trade shows and my tenure in the hospitality industry put me in a unique position to accomplish these goals.”
She added that her extensive contacts throughout Southern Nevada will serve her well in building relationships with venues and hotels.
The next Las Vegas Market will be held Jan. 29-Feb. 2, 2007, at World Market Center and Pavilions, and Jan. 30-Feb. 2 at Cashman Center.
September 21,
2006 by in UnCategorized
By Home Furnishings Business in Case Goods on September 2006
University Loft Co., a major supplier of contract furniture to college and universities, as well as the hospitality, military and retail markets, has promoted Kathy Carlson to national sales manager of ULC’s Retail Division.
Along with coordinating all aspects of the retail division, Carlson is responsible for training and overseeing independent retail dealers, attending furniture trade shows, creation of training materials, new product introductions and attending new store openings.
Kathy joined the ULC sales team in August 2003 and has consistently exceeded and met her high goals and has proved herself to be a great asset to University Loft Co., said James Jannetides, president and founder of University Loft Co.
“Kathy’s can-do attitude, problem solving skills and ability to be a team player have certainly been a credit to her success at ULC,” he said.