Klaussner To Permanently Cease Operations
Furniture World News Desk on
8/7/2023
Asheboro, NC—based Klaussner Furniture announced that it ceased operations as of August 7, 2023. The company, founded by Stuart Love in 1963, was purchased by Hans Klaussner in 1979. Klaussner’s management team acquired the company in 2011, then sold it to private equity firm Monomoy Capital Partners in 2017.
The company was a significant furniture supplier of domestic upholstery, imported upholstery, domestic motion furniture, case goods and mattresses, with over 70% of its products produced domestically at its five manufacturing campuses in North Carolina. Licensed products included the Trisha Yearwood Home Collection and Stacy Garcia Home.
The company posted the following statement to the company website https://www.klaussner.com.
“As the result of challenging and unexpected business circumstances impacting our operations, Klaussner Furniture Industries, Inc. and its direct and indirect subsidiaries ("Klaussner" or the "Company") must unexpectedly wind down the operations.
“Klaussner's lending source has unexpectedly refused to continue to fund the Company's operations. This outcome was not reasonably foreseeable, but due to these unexpected circumstances, Klaussner can no longer sustain its operations. As a result, Klaussner has made the difficult decision to permanently cease operations and is providing as much notice as possible.
“Klaussner anticipates closing all of its facilities entirely, and that process is underway as of today, August 7, 2023.
“Klaussner is working to provide information and resources to assist with next steps for displaced employees as it becomes available. This information will be communicated directly to employees via the contact information we have on file.”
The company requested that questions should be addressed to the following email addresses: