Daily News
From Home Furnishing Business
The Mitchell Gold Co. Shuts Down “Unexpectedly and Suddenly” August 26
August 28,
2023 by HFBusiness Staff in Business Strategy, Industry 
On Sat. Aug. 26, the facilities at Mitchell Gold + Bob Williams were forced to shut down “unexpectedly and suddenly” according to a sign that was posted on their front gate along with the state required WARN Act to give employees notice of their permanent lay-off.
According to an article in the Taylorsville Times, the Worker Adjustment and Retraining Notification Act (WARN) gave more details in line with those posted on the employee notice at the front gate.
It stated, “The purpose of this letter is to provide you with official notice under the federal Worker Adjustment and Retraining Notification Act (WARN).
As you may know, the current economic climate has presented significant challenges to the furniture industry. While we have been buoyed by the support of our wonderful employees, like yourself, The Mitchell Gold Co. d/b/a Mitchell Gold + Bob Williams (the “Company”) has recently and unexpectedly learned that we are unable to secure critical financing to continue business operations. In the wake of this unfortunate development, the Company will sadly need to wind down operations and terminate the employment of our employees beginning on August 26, 2023.
Because these events were unforeseen, we were unable to provide you and others with more notice of this difficult decision.
Your position will be affected by these events, and your last day of employment with the Company is expected to be on October 25, 2023, unless you are asked to perform additional services during the 14 day period from that date (or your layoff date is otherwise revised from that date). We are sorry to have to bring you this news.”
The notice continues with information concerning wages through the last day of employment, for most being Oct. 25, the termination of health insurance and other benefits as of Aug 31.
While Mr. Williams and Mr. Gold have not owned the company for some time, it is currently and wholly owned by The Stephens Group (TSG) out of Little Rock. All of those involved “could not come to terms on how to finance the business. The bank very abruptly shut (it) down,” according to Mr. Mitchell Gold, who took time to answer questions concerning the shutdown.
When asked about the response he might have planned in response to any backlash, because of other recent ‘incidents’ it might be compared to, Mr. Gold replied, “If you read the various social media posts and comments, the vast majority recognize (that) Bob and I worked very hard to avoid this up until the last minutes, and over the years treated our employees, suppliers and customers with the respect and dignity they deserved.”
He also said what the plans were to try and help those displaced, “We have the local economic development team helping (with job placement and/or counseling) along with everyone helping to notify (others) where they know positions are open. I just got off the phone with the director of economic development again.”
At this point, there are no plans for the facilities. They are still trying to sell the business.
Mr. Gold concluded by saying, “Bob and I are heartbroken. We are especially so for all our wonderful employees, suppliers and customers.”
As Mr. Gold responded above, the furniture industry is one that will reach out and help one another. Thinking about these and other employees and workers who may be needing help, reach out to one another with leads and ideas of possible jobs/ideas. This is a community that comes together, so it’s time to use that power for good.