Online retailer Amazon has seen gains in sales of bulky 'eCommerce Immune' Items and Americans are increasingly turning to it for tools, big and heavy home improvement items.
Ashley Furniture Industries, the largest U.S. residential furniture manufacturer with $4 billion in sales, seeks a buyer. Goldman Sachs Group Inc. is handling the transaction, according to the Wall St. Journal, which first reported the news.
Ashley Furniture Industries faces $1.766 million in OSHA penalties for having more than 1,000 work-related injuries over a 3-1/2-year period. The residential furniture giant is disputing the allegations.
Ashley Furniture has been granted permission to move forward on Phase 2 of its $80 million manufacturing and distribution complex in Davie County, North Carolina.
Furniture makers are experiencing a bump in sales, along with paneling and cabinetry manufacturers, as the housing recovery takes on a life of its own, driving economic growth.
Lincolnton Furniture went from being hailed as a symbol for the resurgence of manufacturing in America to becoming another victim of lower-cost imports. Unfortunately, it is not alone.
Beaufurn announced it is moving manufacturing to Davie County, NC, joining Ashley Furniture, which recently announced the opening of a new manufacturing and distribution facility in the area.