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Stanley Furniture Company, Inc Company Profile, Information, Business Description, History, Background Information on Stanley Furniture Company, Inc.

In 1969, Stanley Furniture Company became part of Mead Corporation. Then, beginning in 1979, the company became part of several leveraged buyouts. Needless to say, this was a time of change and readjustment for the company, and in the late 1980s, it emerged as a wholly owned entity once more. When the stock market collapsed in October 1929, Stanley Furniture Company was in debt from the recent expansion. Banks were closing, factories shutting down, and people everywhere were out of work. Please select your primary business below to get the latest home furnishings industry news at no charge.

It also invested millions in the Young America plant as part of an effort to make the facility more efficient and productive for a 21 st century manufacturing model. The mirror is a direct match to the rolling desk on wheels. The desk rolls away if wanted from the storage or media cabinet under it. This Young America Dresser’s grey wash finish gives of an almost industrial yet homie feel—perfect for any modern master suite. Clean lines and simple yet substantial hardware make for a timeless look you’ll love living with for years to come.

Over 100 homes were built to house the new factory’s workers, and new roadways were paved. This lovely piece by Young America by Stanley Furniture Company features holes for wires or cables to be strung and can be used as a media console or could be used as a lovely book shelf with below drawer. The case stands on four short cabriole legs with a nice scalloped apron and a drawer that’s opened by two knobs.

The expansion cost a total of $4 million and was completed in 1957. The company said it will honor all orders for Young America products placed on or before April 28. Over the next several weeks, it also will market the plant, the brand or any other related assets of the Young America business to interested parties.

I had found they were recommended all over the internet, and when I went in person the pieces seemed VERY solid, sturdy and well made. I recommend you go and see it yourself in person if you can. I did look at which crate and barrel owns and I loved a set I saw online, but I could not see it in person so I did not go with them. In November 1992, the company underwent a financial restructuring.

In addition to ending the first quarter with $16.7 million in cash, the company said it remains debt free. For the full year, the company’s sales fell 1.6% to $96.9 million and its losses totaled $12.6 million. Young America had been importing roughly 25% of its product from China and Vietnam up until late 2009. At that point, the company shifted the remainder of its youth line from overseas to the Robbinsville plant. Our delivery team does more than move furniture – they’re here to support customers and make the process of buying, selling and moving furniture easy. Stanley Furniture was sold in 2018 to Churchill Downs, a Delaware-based limited liability company controlled formed by Walter Blocker, chairman of the Vietnam Trade Alliance in Ho Chi Minh City.

A firm closing date has not been set, but it is likely to occur within days, officials said. Additional fees may apply outside of the standard service zone. Mar 18, 2014 — If an item is missing or damaged contact Stanley Furniture Company immediately for replacement. Take advantage of the upper and left panel tools to modify Stanley furniture replacement parts. Add and customize text, pictures, and fillable fields, whiteout unneeded details, highlight the important ones, and comment on your updates.

Shortly after the sale was announced, Glenn Prillaman resigned from his role as CEO and President. Prillaman was replaced on an interim basis by Matt Smith, managing director of the Finley Group. In March 2018, the sale to Churchill Downs, LLC was finalized making Walter Blocker the company’s new owner. Blocker serves as chairman of the Vietnam Trade Alliance based in Ho Chi Minh City, Vietnam. In 2010, the firm announced that it would close its Stanleytown manufacturing operation, laying off 530 workers and converting the former factory into a warehouse and distribution center.

The company planned to utilize state-of-the-art equipment, computerized routers, and ergonomic design for maximum safety, comfort, and quality with a long-term goal of shipping customer orders in an average of two weeks. ‘We believe this new plant will be the largest, most modern manufacturing facility for home office furniture in the United States,’ Prillaman said. I really loved the Stanley set’s style and the color of the bureau but not the color of the chest of drawers that did not match. Classically-oriented creators such as Edward Wormley, house designer for Dunbar Inc., offered such pieces as the sinuous Listen to Me chaise; the British expatriate T.H.

That year, Stanley announced a $2.7 million expansion program which, by the time it was completed, cost $4 million. The goal of the expansion was to increase automation and bring the production facilities truckmovers in line with modern capabilities. Jyyanks, maybe the retail store you dealt with had higher standards than mine and made sure only matching pieces that were not damaged came to you so I am happy for you.