Standard Furniture Manufacturing Inc.filed a complaint against its Chinese suppliers for delivering chairs and sofas labeled "top grain leather" but using water buffalo hide instead. Standard Furniture alleges to U.S. District Court in Santa Ana, California, that LF Products and True Designs Inc. shipped $600,000 of its celebrity Joanna and Chip Gaines furniture in unsalable quality.
IMA Klessmann GmbH started construction of an additional production hall in October. The new production facilities, with a total area of about 10,000 square feet, will be used for the assembly, installation and initial commissioning of fully automatic digital facilities for batch size 1 production and should be ready for use in June 2017.
Stanley Furniture's board adopted a rights agreement to protect it from being a target of a takeover. Stanley says its substantial net operating loss carryforwards - as of October 1 totaling $20.4 million. In June Stanley retained Stephens Inc., and saus it is exploring a possible sale or merger.