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Be careful if you order furniture in any of these brands as the company is bankrupt. (FBI) tried to sell its assets at auction this month, but it was cancelled as there was only one bidder. Dealers in these lines may take your order, but it might be iffy if it ever gets built. Be advised!
Broyhill
Hickory
Thomasville
La Barge
Maitland-Smith
Pearson
Lane
Drexel Heritage
Lane Venture
Henredon
Lane Furniture.
My goodness- so important to know!
Thanks DrCollie!
So many divisions. I wonder if they will all be gone soon.
Oh yes, they most certainly will. They may be bought out by someone or just disappear altogether - but they won't exist (for better or for worse) as we know them now.
Like it or not, the American public at large (and the regulars on this forum are not indicative of this) want Costco Cheap. Even some of FBI's brands are wholly Chinese built, and they are going under as part of the parent company, their business model obviously didn't work for them. It's a difficult industry and continues to still be so...which is why I hesitate to expand my business to a nicer and larger location and add employees. Yesterday (11.30.13) I was so busy in the store I couldn't keep up and wished I had some help - but there are days when no one but the mailman comes in and the phone doesn't ring, unlike the 1990's when every day was a busy day. Tough business as both a manufacturer and a retailer and I myself am hyper-conservative on expansion as I've seen so many fail once they take on debt to try to grow their business.
Interestingly enough, a local dealer citied FBI bankruptcy as a reason he doesn't have to price competitively!
He said, 'look my competitors are going up in smokes, I am sitting pretty. I don't have to cut my margins." His H&M prices were close to MSRP!