King Koil Signs License for India

September 10, 2013 by in Bedding, Industry, Licensing, Product

King Koil has signed a license agreement with Real Innerspring Technologies New Delhi to manufacture and market King Koil-branded products throughout India.

Somerton Dwelling Has High Point Showroom

September 10, 2013 by in Business Strategy, High Point, Industry, Market

Somerton Dwelling will open a new High Point Furniture Market showroom designed by Connie Post, CEO of Affordable Design Solutions.

Layoff of Lane Employees Likely in Furniture Brands Bankruptcy

September 10, 2013 by in Bankruptcy, Industry

The Chapter 11 filing by Furniture Brands International yesterday will likely result in the layoff of its 1,451-person Lane workforce in Mississippi.

Lane is being spun off separately from the company's stable of brands. The division operates plants in Belden, Miss., and Saltillo, Miss., as well as distribution centers in Verona, Miss., and Wren, Miss., and an office in Verona.

Gloria Neal, with the Mississippi Department of Employment Security, said the company filed notice Monday of the layoffs. She said the filing indicated the layoffs would start Oct. 14 and continue in "ensuing days and weeks."

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Source: Clarion-Ledger

Furniture Brands Files Chapter 11; Plans Sale of Brands

September 9, 2013 by in Bankruptcy, Industry

Furniture Brands International (OTC: FBNI) has filed Chapter 11 bankruptcy protection today with the U.S. Bankruptcy Court in Delaware and said it plans to sell most of its assets, including brand names like Broyhill, Drexel Heritage and Henredon.