McCONNELLSVILLE, N.Y. - Harden Furniture, one of the oldest furniture makers in the U.S., has suspended its operations again, affecting 100 workers.
Production was suspended May 29. Administrative staff was told not to return to work beginning June 18. Over 90 percent of the 100 affected employees work in production.
The company's longtime CEO Greg Harden has also been terminated. Harden was a fifth generation executive of the family-owned furniture manufacturer in business, which began in 1844. Harden told syracuse.com that he was fired by the company's new owner without warning two weeks ago.
The company's future has been in limbo since Feb. 1 when its assets were in a foreclosure auction to Big Shoulders Capital, a loan firm based in Northbrook, Illinois. After closing the plant briefly, Harden announced weeks later that it would resume limited production - recalling 82 employees back to work. At the time, Greg Harden, who still owned the company, expressed hope that production would continue.
Big Shoulders Capital and new Harden owner Walter Haskett declined to comment to local news. He said Big Shoulders will issue a news release declaring plans for Harden.
The McConnellsville, New York-based firm has been in business since 1844. After turning down an acquisition bid in 2015 by an Asian firm, in 2016 the company underwent a leveraged buyout of 75 percent of the company by private equity firm Miramar Capital Partners. That move ultimately led to the Article 9 auction by Gencap Solutions, which had provided funding to Miramar for the acquisition.
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