-- Klaussner Home Furnishings CEO Bill Wittenberg and the senior management team announced they have acquired the company from former owner Hans Klaussner, in a deal funded by Wells Fargo Capital Finance.

Klaussner also recently opened a 90,000- square-foot showroom in High Point after relocating from Asheboro, NC.

"It's no secret that the last couple of years have been tough for the furniture industry," said Wittenberg. He said that with the financing support buyout received, along with its new showroom in High Point, "the road ahead looks bright for Klaussner."

Klaussner Home Furnishings, one of the largest furniture manufacturers in America, employs over 1,500, with manufacturing and warehouse facilities located in North Carolina, Iowa, and with an import infrastructure in Asia.