AT THE MARKET\u00c2\u00a0— Longtime case goods, dining and bedroom source Richardson Bros.
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\nis getting out of the furniture business.<\/p>\n
Customers were notified last month that the company was liquidating and would immediately vacate its High Point and Las Vegas showrooms, said Jim Richardson, president.<\/p>\n
Dealers were given a chance to fill in with existing merchandise and did so over the last seven weeks, he said.<\/p>\n
\u00e2\u20ac\u0153This liquidation in no way affects the rest of our businesses, which remain vital and profitable. That would include Richardson Building Products, Richardson Yacht Interiors, Richardsons Furniture Emporium, and Richardsons Furniture Clearance Center,\u00e2\u20ac\u009d Richardson said. The latter two are retailers.<\/p>\n
He added that the company reassigned the Richardson Bros. employees to other divisions and did not lay anyone off.
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\nIn 2003, the company closed its factory in Wisconsin, where it had manufactured for more than 120 years, to become an importer of solid wood dining and bedroom furniture.\u00c2\u00a0
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\nIn a Feb. 5 letter to dealers, the company said sales erosion over the past two years made it difficult for the company to support inventory expenses, which led to the decision to dissolve the furniture division.
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\n\u00e2\u20ac\u0153As you are all aware, in the last few years the furniture industry has seen many major changes,\u00e2\u20ac\u009d the letter said. \u00e2\u20ac\u0153We had always positioned ourselves as a solid wood resource and as this category of furniture continued to shrink in importance, we were faced with the decision to either follow the current trend to repeatedly lower our prices \u00e2\u20ac\u201c which would ultimately force us to leave the solid wood arena \u00e2\u20ac\u201c or to exit the market with our legacy intact. This was the root of our decision.\u00e2\u20ac\u009d
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\nThe company said it had sourcing partners in China and Bolivia. It operated warehouses at its Sheboygan Falls, Wis., headquarters and in Santa Fe Springs, Calif., and also provided direct container service.<\/p>\n","protected":false},"excerpt":{"rendered":"
AT THE MARKET\u00c2\u00a0— Longtime case goods, dining and bedroom source Richardson Bros.<\/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-3601","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\/3601","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=3601"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3601\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=3601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=3601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=3601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}