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Quaker Fabric Corp. To Lay Off 225 Additional Workers

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Quaker Fabric Corporation reported the layoff of an additional 225 employees, reducing the company's staffing level to a little over 1,000. "Fierce competition from imported Chinese fabrics, rising energy prices and weakness in the retail furniture sector in general, are continuing to affect our incoming order rates and production requirements. This means that we must reduce staffing in both our administrative and manufacturing areas to levels consistent with our current production needs," commented Larry A. Liebenow, Quaker's President and CEO. "Quaker is committed to retaining a strong U.S. manufacturing base and its position of leadership in the U.S. upholstery fabric market. To that end, we are continuing to cut costs and to execute the restructuring plan we put in place last year - selling off the buildings and equipment we don't need to support our operations; aggressively working to build sales in those domestic markets least sensitive to imported products; achieving profitable volume in the decorative, outdoor and contract fabric markets; and developing strategically important commercial relationships with a small number of offshore fabric mills. We are making good progress on each of those fronts. Once our restructuring initiatives are further developed, we hope to be able to offer those individuals who are leaving us now the opportunity to return to the Quaker team," Mr. Liebenow added. Quaker Fabric Corporation is a leading manufacturer of woven upholstery fabrics for furniture markets in the United States and abroad, and the largest producer of Jacquard upholstery fabric in the world.

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