What changed in the FDM 300 from 2008 to 2009? Sales were down for almost every company we were able to gather information on. But there were only a few companies we believe are out of business and not in operation.
We were able to determine that a few companies did close, some of which are included on this year’s list (remember, this is a view of the industry in the year 2009). Here’s a quick look at some of the major changes.
Barcalounger has closed its Rocky Mount, N.C., plant and has moved manufacturing to Martinsville, Va., where it has a shared services agreement with American of Martinsville. In 2008, we reported Barcalounger had annual sales of $40 million and 300 employees making chairs, sofas, love seats, recliners and rockers in the 364,000 square foot Rocky Mount plant.
There have been no published reports about Cabinetec closing down its cabinet factory in October. This company was closely tied to the boom-and-bust Las Vegas market. Headquarters were in North Las Vegas and the plant was in St. George, Utah. We were unable to contact the company or confirm the closing from any other source. In 2007, the company has annual sales of $30 million and 310 employees, making semi-custom frame and frameless cabinets.
Coffman Stairs was acquired by P&F Industries and is being combined with the stair operation of Woodmark International and Stair House to form WM Coffman LLC. We don’t have new data for 2009. In 2008, the millwork and stair component manufacturer reported annual sale of $40 million and employed 233 in three plants in Marion, Va.
Mielach Woodwork has had equipment auctions in December and January. The company reportedly closed its architectural millwork operation in Edison, N.J., and equipment is being sold at auction. Mielach reported FDM 300 annual sales of $15 million in 2008 with 135 employees.
We were unable to contact New Generations Furniture in McKenzie, Tenn. They were reportedly closed in May. In the FDM 300, we estimated 2007 annual sales at $50 million with 400 employees for this maker of love seats and sofas. The company had plants in McKenzie and Monterrey, Mexico.
Norwalk Furniture Corp. had annual sales of $141 million in 2007 with 1,200 employees and seven manufacturing plants making upholstered chairs, love seats and furniture components. The company closed completely and has reorganized as a smaller furniture manufacturer, still using the main Norwalk, Ohio, factory.
Orleans Furniture closed its Columbia, Miss., manufacturing plant in November and will continue as an importer, according to a report from WDAM-TV in Hattiesburg, Miss. Orleans CEO Ed Marshall blamed the closing on the recession and an inability to compete with imports, especially from China. A total of 75 employees will be laid off, and about 25 will remain to handle the import business. According to FDM 300 data, the company employed 150 and reported annual sales of $30 million in 2008.
In December, Owens Inc. shut down both Shawano, Wis., plants, leaving 163 people out of work. According to a report in the Business Journal of Milwaukee, the company was working with lenders and potential buyers in an effort to keep the business operating. The company was expecting to receive a low-interest loan package, and had laid off employees earlier in the year, according to WFRV-TV in Green Bay. In the 2008 FDM 300, the company employed 270 in its two Shawano plants and recorded annual sales of $25 million making doors and engineered hardwood flooring.
Penloyd reportedly closing its Tulsa, Okla., store fixture manufacturing plant in January 2009. Equipment has been listed on online auction sites. In 2007, the company reported annual sales of $75 million and had 450 employees in its FDM 300 listing, making a wide range of store fixtures in three plants in Tulsa and Bowling Green, Ky.
Peoploungers closed its Mantachie, Miss., plant in June and is not in operation. The motion upholstery manufacturer had emerged from bankruptcy protection with a new owner a year earlier, according to a report in the Northeast Mississippi Daily Journal. The company had earlier closed its merged operations with its large Nettleton, Miss., location, and had employed some 800 people. According to FDM 300 data, the company made residential motion furniture and had estimated sales of $25 million in 2008 with 200 employees.
Shermag Inc. has gone through many changes in recent years. A Quebec court approved the purchase of Sherbrooke, Quebec-based Shermag by the the BDM+ group, which includes Bermex, and Dinex. Bermex is a office/contract and residential furniture manufacturer also listed in the FDM 300. In 2008, Shermag had filed for Companies Creditors Arrangement Act, the Canadian equivalent of Chapter 11. We reported annual sales of $147 million in 2007 with 750 employees at four Quebec plants. As recently as 2005, the company employed 2,400 in 13 plants and had $158 million in annual sales.
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