Woodworking Industry News
On July, 10, Bassett Furniture Industries Inc. was hit by a substantial cybersecurity breach that led to a halt in manufacturing operations. The affects of that attack are still being felt.Bassett reported that revenues decreased 13% in the third quarter, impacted by the July cyber incident that suspended all financial systems and manufacturing for 7 days. The company also reported an operating loss of $6.4 million, which included a $1.2 million loss on a logistical services contract the company abandoned and various costs associated with the cyber incident.