An investment firm with a 12.9% stake in struggling Rent-A-Center (NASDAQ: RCII) is urging its board of directors to sell the company, and threatened to launch a proxy fight at this year’s annual meeting if the board doesn’t act quickly.
Retailer Williams-Sonoma (NYSE:WSM) signed a franchise agreement with Korean furniture manufacturer Hyundai Livart Furniture Co. to operate retail stores and an e-commerce business in South Korea.
Serta Simmons Bedding, the nation’s biggest mattress producer, said it is making a multi-year investment of more than $100 million to expand production capacity and boost its marketing efforts.
Berk’s Furniture & Mattress in Hackettstown, N.J., and Dean Bosler’s Furniture and Mattress Showrooms in Evansville, Ind., are the newest members of the Furniture First national buying group.
Bedding producer Tempur Sealy International (NYSE: TPX), whose stock price has been hammered since it announced last week it no longer would sell products to Mattress Firm, said its board of directors has approved a stockholder rights plan to protect the company against hostile takeover bids.
Heritage Sleep Concepts, the Southeastern licensee for mattress brands Eclipse International and Eastman House, has added industry veteran and its Executive Vice President of Sales Bob Ashburn to its board of directors.
Retailer Z Gallerie said it will build a 225,000 square-foot distribution center and customer service center in Lithia Springs, Ga., to service its stores in the southeastern United States and support future growth.