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Stanley Furniture Company, Inc. Message Board

  • microcaptrader microcaptrader Apr 17, 2014 11:56 AM Flag

    La-z-boy undergoing same type of situation...closing plant...moving to import model...

     

    furnituretoday /article/487391-la-z-boy-shifting-case-goods-all-import-model

    "La-Z-Boy said the restructuring will result in pre-tax charges in the range of $13 million to $15 million, or 15 to 17 cents per share after tax. These charges, it said, will be primarily for the “impairment of certain long-lived assets and inventory and will also include severance, benefits and other associated costs.”"

    La-Z-Boy is doing more in terms of closing facilities than STLY however. Their restructuring involves closing the Hudson NC manufacturing facility, and consolidating its warehouse and repair operations from two North Wilkesboro, N.C., facilities to Hudson. Only about 100 employees will be affected vs Stanley's 400.

    Assuming Stanley doesn't already have a buyer, it will be interesting to see how its restructuring chargec compare to La-z-boys.

    This topic is deleted.
 
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