— Furniture Today,
\nRoanoke plant employs 275 people
\nMARTINSVILLE, Va. — Hooker Furniture has announced it will close its plant in Roanoke, Va., one of its two remaining case goods plants, by the end of August.
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\nThe 265,000-square-foot plant employs 275 people, about 20% of Hooker\u00e2\u20ac\u2122s work force, and produces home office and home entertainment furniture.
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\n Production will be shifted to the company\u00e2\u20ac\u2122s remaining plant, a 760,000-square-foot complex next to the company headquarters here.<\/p>\n
Hooker also has two upholstered furniture plants, two supply plants, a distribution center and several warehouses in Virginia and North Carolina, with a total of 2.6 million square feet.<\/p>\n
Paul Toms Jr., Hooker\u00e2\u20ac\u2122s chairman and CEO, praised the Roanoke employees.<\/p>\n
\u00e2\u20ac\u0153The closure of the plant is no reflection on them,\u00e2\u20ac\u009d he said. \u00e2\u20ac\u0153Rather, it is dictated by the consumer\u00e2\u20ac\u2122s demand for value, a demand currently best being met by imported products largely due to their lower production costs.\u00e2\u20ac\u009d<\/p>\n
Demand for Hooker\u00e2\u20ac\u2122s imported wood and metal furniture has been increasing, the company said.<\/p>\n
\u00e2\u20ac\u0153While we believe our growth in wood furniture going forward primarily will be from our imported lines, we think there will continue to be opportunities to be competitive in certain domestically manufactured product niches,\u00e2\u20ac\u009d Toms said. \u00e2\u20ac\u0153We do not intend to exit domestic furniture manufacturing.\u00e2\u20ac\u009d<\/p>\n
The company said it expects to record asset impairment charges of $4.5 million to $5 million \u00e2\u20ac\u201d $2.8 million to $3.1 million after tax, or 23 cents to 26 cents per share \u00e2\u20ac\u201d to write down assets at the Roanoke facility and for expenses including severance benefits. By closing the plant, Hooker expects to reduce its fixed operating expenses by $2 million to $2.5 million a year.<\/p>\n","protected":false},"excerpt":{"rendered":"
— Furniture Today, Roanoke plant employs 275 people MARTINSVILLE, Va. — Hooker Furniture has announced it will close its plant in Roanoke, Va., one of its two remaining case goods plants, by the end of August. The 265,000-square-foot plant employs 275 people, about 20% of Hooker\u00e2\u20ac\u2122s work force, and produces home office and home entertainment […]<\/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-861","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\/861","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=861"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/861\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}