New Furniture Industry

[baileyuph]

Back to the developments with Furnitue Brands:

More bad news, they will be delisted this week from the NYSE, over the counter they go.  It looks like chapter 11 is their next move.  Net capitalization has and continues to drop, whole company is now just over 5 million, not much for one of the largest furniture builders left in the US.

Gene, if you have some additional information or reports, hope it is better news than I read.  FBrands has, for years, had some very good lines, Drexel is just one.  Hate to see them in so much trouble, their headquarters is here in our back door.

It sure seems that if America can't build it strickly by machine, we are out of the running, simply can't compete with Asian labor rates.

Doyle

[baileyuph]

More bad furnitue market news; this marketing area is approximately 3 or 4 million, said to support the following news isn't just a drop of rain.

The area was head quarters for Furnitue Brands now in chapter 11.  There are  two retailers, relatively large but who catered to different furniture markets.  One the upscale and the other, the opposite end of the scale.

This week, it was noted that the upscale firm that typically sold the very nice expensive stuff placed a large ad in the paper with pictures.  What was seen is they are marketing the same Asian made typical sofa/love seat combo that inclded recliners and is covered in processed black leather that the major low end retailer aluded to above sells.  The price is essentially the same.

That short story indicates that the furniture market isn't going to "come back" like it used to be.  The expensive retailer obviously was faced with a decision to go in the direction taken or go out of business.

This situation has been framed before and repeatedly for a while, but put in another way ..............It Sucks!!!!!!!!!

Doyle

[JuneC]

There are pockets of success, however.  I'm familiar (via family/friend ties) with a local company making, from scratch, very high end furniture sold via designers and boutique outlets.  It's almost exclusively high end Italian leather covered.  They're continuing to expand and hire.  Crazy successful, but probably fewer than 100 employees, all told.  Some manufacturing is done here in Florida, but most in Texas.  I suppose if you find your niche, you're golden.  But as for the big box furniture stores, they're stuck competing with each other for the average Joe's meager new furniture budget and average Joes (of which I'm one) just can't afford much. 

June

[Mike]

when I , Joe meager  ,moved to Florida I bought a living room, set couch love seat and table and lamps like $2500
9.5 year ago it lasted well I tossed the move seat as it didn't work in my new house

[sofadoc]

Here is a "Made in China" chair that I started on today. The customer complained that after only 1 year, the inside back has no support.
This is what I found when I opened it up:

[baileyuph]

It is all about cost isn't it.  On the positive side, looks as if the frame is solid wood, no plywood.

Doyle

[kodydog]

Here is a "Made in China" chair that I started on today. The customer complained that after only 1 year, the inside back has no support.
This is what I found when I opened it up:

I had a similar experience with dining seats. Totally worthless.