— Furniture Today,
\nWEST LAFAYETTE, Ind. \u00e2\u20ac\u201d Chromcraft Revington said it will close its bedroom and dining room furniture plant in Sumter, S.C., next month as part of a restructuring program aimed at reducing fixed costs and improving service to dealers.
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\nThe move will result in the loss of about 200 jobs or 17% of the company\u00e2\u20ac\u2122s workforce. Sumter-brand products now made in South Carolina will be outsourced to factories primarily in Asia, the company said.<\/p>\n
\u00e2\u20ac\u0153We believe this restructuring is an important step in repositioning the company in the global furniture marketplace and in strengthening our ability to remain competitive,\u00e2\u20ac\u009d said Ben Anderson-Ray, chairman and CEO.<\/p>\n
In addition, the company said it will close a distribution center in Knoxville, Tenn., that handles the Silver brand of occasional furniture and combine it with a Peters-Revington distribution center in Delphi, Ind.<\/p>\n
Plus, the company said it will relocate an upholstered furniture factory in Lincolnton, N.C., to a nearby building in the same town.<\/p>\n
Anderson-Ray said the company intends to sell the vacated Lincolnton, Knoxville and Sumter buildings, which could bring in $3.5 million to $4.5 million.<\/p>\n
Jeff Faw will remain president of Sumter, while Peters-Revington President Bill Massengill will oversee the integrated Peters-Revington and Silver lines.<\/p>\n
Silver President Bobby Ivins will become president of CR Global Services, overseeing the expansion of the company\u00e2\u20ac\u2122s global product development, sourcing, quality control and logistics.<\/p>\n
The company said it expects to incur pre-tax restructuring charges of $6 million to $7.5 million to write down the value of equipment, buildings and inventories and pay severance benefits.<\/p>\n
In addition to Sumter, Silver and Peters-Revington, the company produces furniture under the Chromcraft and Cochrane band names.<\/p>\n","protected":false},"excerpt":{"rendered":"
— Furniture Today, WEST LAFAYETTE, Ind. \u00e2\u20ac\u201d Chromcraft Revington said it will close its bedroom and dining room furniture plant in Sumter, S.C., next month as part of a restructuring program aimed at reducing fixed costs and improving service to dealers.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1794","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/1794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=1794"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/1794\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=1794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=1794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=1794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}