Mitchell Gold + Bob Williams ceased operations on Saturday, Aug. 26, and the abrupt notice was not just a fast-moving action for workers, but seemingly for management as well.

Chris Moye, interim CEO, said as much in a message to the Woodworking Network.

“Given the speed this came upon us,” Moye told WWN, “closing was the best option in a set of bad options.” 

Moye was named interim CEO in April, approximately four months before the shutdown announcement.  He declined to comment on the closure and the company’s inability to secure additional funding to continue funding operations at the company. In a letter to employees regarding the closure, Moye said the company had "recently and unexpectedly learned that we are unable to secure critical financing to continue business operations ... In the wake of this unfortunate development, the Company will sadly need to wind down operations and terminate the employment of our employees beginning on August 26, 2023."

Moye told Woodworking Network that he was  "not able to provide more information yet, other than to say we are working on best options for our valued employees, vendors, and customers.” 

Community caught unawares

The news of the closure was unexpected by the community. On the Alexander County Government website, the commissioners said they were saddened by the abrupt closure of Mitchell Gold + Bob Williams and the many people who lost their jobs. The county had no prior knowledge of this closing, but is currently working with the Western Piedmont Council of Governments (WPCOG), NCWorks, and local industries to assist these individuals as soon as possible.

“The sudden closure of Mitchell Gold + Bob Williams in Alexander County is devastating news to many of the citizens and families that rely on employment there, and our hearts go out to them,” said Marty Pennell, Chairman of the Alexander County Board of Commissioners. “As students will be returning to school tomorrow, all the moms, dads, and grandparents that are affected by this closure will now be looking for new jobs. I want to challenge our local industries to publicize job openings and reach out to these folks who have lost their job at no fault of their own. As I have already witnessed our local companies and employees posting opportunities for employment, this is a huge gesture for our community in helping others in times of crisis and need. This is a fantastic opportunity for our local companies to employ some hardworking and dedicated folks here in Alexander County.”

Others in the manufacturing community have also offered their thoughts and support during this difficult time. Alex Reeves, president of nearby Craftmaster Furniture, said “Our thoughts and prayers are with all those that are affected by this closure. We never want to see this happen in the furniture industry. Craftmaster has strong demand for our product and we are in a very healthy financial position. We welcome all applications, and we look forward to continuing to provide long-term careers in Alexander County, especially to those who just lost their jobs.”

Interim CEO appointed

The Taylorsville, North Carolina–based home furnishings company appointed on April 21 Chris Moye as interim CEO and board member following the departure of former CEO and president Allison O’Connor, who had stepped down.

According to his LinkedIn page, Moye came to the company after serving as Executive-in-Residence and interim CEO at GA Foods, a private equity owned “nutrition as health care” middle market platform, and before that, he served as the CEO of Crossmark, a private equity owned, Sales & Marketing B2B Services business. 

In the WARN notice letter to employees, Moye said that the company had "recently and unexpectedly learned that we are unable to secure critical financing to continue business operations.

"In the wake of this unfortunate development, the Company will sadly need to wind down operations and terminate the employment of our employees beginning on August 26, 2023."

The company had also posted signs on a truck gate and office door of its Taylorsville plant dated Saturday, August 26.
The signs, according to images taken by the Taylorsville Times, said:
“Mitchell Gold + Bob Williams has recently and unexpectedly learned that we are unable to continue business operations.
“Any MG+BW employees that are located at the following NC locations should not report to work as of Monday, August 28th:
•    Main Plant: Taylorsville
•    Frame Plant: Hiddenite
•    NCDC: Statesville
•    Any home office remote workers are not to log in
•    All home office workers.

“We are sorry about the difficulties this may cause.

“As soon as we have a schedule to get your tools & personal belongings, we will contact you. Thank you.”
A copy of the letter addressed to employees was taped to an entry door. Dated August 26, the letter was from Chris Moye, the interim CEO named to the post in April 2023, who said the current economic climate has presented significant challenges to the furniture industry.

According to the WARN notice letter:
"Because these events were unforeseen, we were unable to provide you and others before notice of this difficult decision.

"Your position will be affected by these events. And, your last day of employment with the company is expected to be on October 25, 2023. Unless you are asked to perform additional services during the 14-day period from that date, or your layoff date is otherwise revised from that date. We are sorry to have to bring you this news.

"There are no 'bumping rights' to determine who will be separated and this is a permanent separation."
According to the notice, workers will receive final wages through their last day of employment. Benefits from the company including health insurance benefits will end on August 31, 2023.

Mitchell Gold was ranked #60 in the FDMC300 list of North American wood products companies. According to the most recent ranking, the company had annual sales of $197.2 million, employed 750 workers, and operated three manufacturing plants encompassing 579,500 total square footage.