{"id":854,"date":"2013-06-08T08:38:59","date_gmt":"2013-06-08T03:08:59","guid":{"rendered":"http:\/\/indonesia-furniture.com\/news\/2013\/06\/08\/hooker-furniture-to-close-va-plant\/"},"modified":"2013-06-08T08:38:59","modified_gmt":"2013-06-08T03:08:59","slug":"hooker-furniture-to-close-va-plant","status":"publish","type":"post","link":"https:\/\/indonesia-furniture.com\/articles\/hooker-furniture-to-close-va-plant\/","title":{"rendered":"Hooker Furniture to Close Va. Plant"},"content":{"rendered":"<p>Hooker Furniture to Shut Roanoke, Va., Plant; 275 Workers to Be Affected by Closure<br \/>\n<!--adsense--><br \/>\nMARTINSVILLE, Va. (AP) &#8212; Hooker Furniture Corp. on Wednesday said it plans to close its Roanoke, Va., plant by August due to declining demand for its wood furniture made in the U.S.<br \/>\n <!--more--><br \/>\nThe company expects to log restructuring and impairment charges of $2.8 million to $3.1 million, or between 23 cents and 26 cents per share, as a result of the closure, primarily in the third quarter. Shutting the plant will reduce annual fixed operating expenses by $2 million to $2.5 million, the company said.<\/p>\n<p>ADVERTISEMENT<br \/>\nThe Roanoke plant employs 275 workers &#8212; representing about 20 percent of the company&#8217;s total work force. The company said it will centralize domestic production at its largest plant and warehouse near the company&#8217;s Martinsville, Va., headquarters.<\/p>\n<p>Hooker said it will offer severance packages to laid-off employees. No workers are expected to be transferred to other company operations.<\/p>\n<p>Industrywide, furniture demand has been shifting toward cheaper imports, Hooker said. Orders and shipment rates for the company&#8217;s domestically produced wood furniture have been on the decline, while sales of its imported wood and metal furniture is on the rise.<\/p>\n<p>Shares of Hooker Furniture fell 4 cents to end at $16.01 on the Nasdaq.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hooker Furniture to Shut Roanoke, Va., Plant; 275 Workers to Be Affected by Closure MARTINSVILLE, Va. (AP) &#8212; Hooker Furniture Corp. on Wednesday said it plans to close its Roanoke, Va., plant by August due to declining demand for its wood furniture made in the U.S.<\/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-854","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\/854","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=854"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/854\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}