HAGERSTOWN, MD – Statton Furniture Manufacturing Co., which specializes in high-end cherry home and office furniture, will close after 82 years in business, said T. Hunt Hardinge III, the company’s president. According to The Herald-Mail,
Hardinge said sales have dropped off significantly in recent months and the company is going out of business on its own terms, rather than file for bankruptcy.
Sales were down approximately 50 percent in June from a year ago, Hardinge said. July was better, but August also was down 50%, and September has been worse, he said.
A final clearance sale is scheduled for Oct. 11 and 12. Schlossberg said the company probably will close around the end of the year. The company's work force of about 38 employees was notified of the closing Monday morning.
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