Daily News
From Home Furnishing Business
Heritage Home Group to Close Drexel Heritage Factory
June 3,
2014 by in Business Strategy, Industry 
The new owner of Furniture Brands International is shuttering another furniture factory in North Carolina. This time, Drexel Heritage's plant in Morganton, N.C., will close by July 31.
The owner of Furniture Brands International Inc. continues to accelerate the disposal pace of unwanted North Carolina assets in the defunct company.
Heritage Home Group LLC, owner of three N.C. furniture manufacturers and marketers, said in a Workers Adjustment and Retraining Notification (WARN) notice Friday that it is closing its Drexel Heritage 60/63 plant in Morganton, eliminating 87 positions by July 31.
The group was formed by KPS Capital Partners LP in November after it spent $280 million to buy several Furniture Brands assets out of bankruptcy. The assets include the brands of Thomasville, Broyhill, Lane and Drexel Heritage.
“Business circumstances will force us to close” the plant, according to a statement from Ira Glazer, Heritage’s president and chief executive. The notice was filed with the N.C. Commerce Department.
Read Entire Story Source: Winston-Salem Journal