/Furniture Brands' Broyhill unit to close N.C. plant

Furniture Brands' Broyhill unit to close N.C. plant

Furniture Brands International’s Broyhill Furniture Industries subsidiary said Monday that it will close its

case goods manufacturing facility located in Lenoir, N.C.

The 628,000-square-foot plant, which employs about 390 people, will cease operations in February 2014, according to a company release.

Furniture Brands said it estimates restructuring, asset impairment and severance charges associated with the plant closure will be about $3 million, almost all of which will be taken in the first quarter next year.

The Broyhill unit closed another Lenoir case goods facility earlier this year, citing increased competition from low-cost imports.

Furniture Brands had reported that for the third quarter ended Sept. 30, its net earnings fell 41.6 percent to $5.8 million, affected by nearly $4.68 million in costs associated with other, previously announced plant shutdowns.

St. Louis-based Furniture Brands International Inc. (NYSE: FBN) manufactures furniture under the Thomasville, Henredon, Drexel Heritage, Maitland-Smith, Broyhill and Lane brands.