Daily News
From Home Furnishing Business
September 18,
2013 by in Industry, Store Openings
HOM Furniture is readying for the opening of its store in Onalaska, Wis., this weekend.
The Coon Rapids, Minn.-based retailer company is replicating its store-within-a-store concept and the new location. The store employs about 50 people.
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Source: Online La Crosse Tribune
September 18,
2013 by in Business Strategy, Industry, Special Events
Ron Wanek, the chairman and founder of America's largest furniture company, is a billionaire - nearly twice over. He makes his comeback to The Forbes 200 list of Richest Americans thanks to the strength of Ashley Furniture.
Forbes' analysis indicates Wanek is the majority owner of the privately held manufacturer and retailer of home furnishings, based out of Arcadia, Wis. The company generated more than $3.5 billion in revenue in 2012, more than any other U.S. furniture maker. The 72-year-old chairman's stake in the company is worth $1.8 billion.
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Source: Forbes.com
September 17,
2013 by in Business Strategy, Industry
Jean Cocteau's poetic artistic legacy lives on in a new collection of decorative textiles and objects designed by upscale Paris-based home furnishings brand Roche Bobois.
Embroidered cushions, woven rugs, ceramics, lampshades, upholstery and throws serve as canvases for the late artist's texts and pictorial designs, using print and embroidery to capture his original drawings and manuscripts.
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Source: Blouin Artinfo
September 17,
2013 by in High Point, Market
The High Point City Council on Monday authorized up to $162,000 in economic incentives on behalf of a European furniture company that may establish a presence in High Point.
BuzziSpace, a Belgian company that designs and makes office furniture for corporate, institutional and health care clients, may set up its U.S. manufacturing operations in the former Pickett Cotton Mill at 1200 Redding Drive in south High Point.
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Source: High Point Enterprise
September 17,
2013 by in Business Strategy, Industry
After its winning battle with the FIPB and various arms of the government, Swedish retail giant Ikea is now getting aggressive about its India foray. Before opening its stores here, the company wants to ensure that there are no products with names even remotely similar.
According to a report in the Economic Times, Ikea has asked its legal team to send injunction orders to more than 24 small businesses across India that have been selling products and services such as furniture, modular kitchen and packaging material under similar sounding names.
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Source: Firstpost.com
September 16,
2013 by in Bankruptcy, Industry
Bankrupt Furniture Brands International has asked a federal judge in Delaware to let it pay more than $5 million in bonuses to 55 employees, including seven company insiders, if its assets are successfully sold at auction.
The manufacturer, which hasn't made a profit in six years, said the bonuses would be paid for reaching incentives that "will not be easy."...
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Source: Law360
September 16,
2013 by in Bankruptcy, Industry
Furniture Brands Canada, a subsidiary of bankrupt Furniture Brands International, has also filed for bankruptcy and laid off all its salaried employees.
Furniture Brands launched the Canadian subsidiary in 2009. Furniture Brands Canada listed liabilities of about $2.1 million and assets of about $409,000 in its bankruptcy notice. Its salaried employees are owed just more than $70,400, according to the notice.
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Source: St Louis Business Journal