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From Home Furnishing Business
Bassett Furniture Reports Unauthorized IT System Breach
July 16,
2024 by Karen Parrish in Business Strategy, Industry 
On July 10, 2024, Bassett Furniture Industries, Inc. detected unauthorized occurrences on a portion of its information technology (IT) systems. Upon detecting the unauthorized occurrences, Bassett immediately began taking steps to contain, assess and remediate the incident, including beginning an investigation, activating its incident response plan, and shutting down some systems.
Bassett’s business operations were disrupted by the unauthorized access by encrypting some data files. As a result of their containment measures, which included shutting down some systems, the Company has not been, and, as of July 15 had not been operating its manufacturing facilities.
Retail stores and e-commerce platforms are open, and customers are able to place orders and purchase available merchandise; however, the Company’s ability to fulfill orders is currently impacted.
According to their report, Bassett is working to bring the impacted portions of its IT systems back online and implement workarounds for certain offline operations with the aim of reducing disruption to its ability to serve its retail, e-commerce and wholesale customers.
At this time, personal information from consumers is not believed to have been compromised. The Company continues to work diligently to respond to and mitigate the impact from the incident. As their investigation is ongoing, the full scope, nature and impact of the incident are not yet known.
As of the date of this filing, the incident has had and is reasonably likely to continue to have a material impact on business operations until recovery efforts are completed. The Company has not yet determined whether the incident is reasonably likely to materially impact Bassett’s financial condition or results of operations.