Hedge fund Alden Global Capital, which recently accumulated a 9.5% stake in retailer Pier 1 Imports (PIR), has sent the company a letter requesting immediate representation on the Pier 1 board of directors and criticizing the company for poor operating performance and a “laissez-faire approach to board responsibilities.”
Capel Rugs is introducing three new collections to its licensed Biltmore® rug program during the High Point Market with Biltmore ticket giveaways, a wine-and-cheesecake party, special discounts and a variety of market amenities in its showroom at Market Square, Space 112.
Ashley Furniture dedicated a new technology center in its hometown of Arcadia, Wis., this week, completing the first phase of renovations to a former community hospital and chapel.
Full-line importer Abbyson Living has opened a company-exclusive upholstery factory in Shanghai that encompasses more than 3 million square feet and includes 20 assembly lines.
Italian mattress producer Magniflex has opened a warehouse in Los Angeles to better serve its rapidly-growing customer base on the West Coast.
Norwalk Furniture is partnering with Company C, a producer of upholstery, pillows, rugs and top-of-bed products, for a collection of lifestyle products that bring together the design expertise of the two companies.
Retail finance company Versatile Credit said its in-store finance application service is now available in about 60 Furniture First member store fronts.