Asheboro, North Carolina-based Klaussner Furniture Industries, a contract manufacturer of furniture, has announced plans to close its facilities in and around Asheboro, North Carolina, starting August 7, 2023, and continuing through August 21, 2023. All executive and employee positions are being eliminated.
The closure will impact 884 employees at seven locations.
The company has noted that its primary lender has unexpectedly refused to continue to fund the company's operation operations.
According to a statement filed with the State of North Carolina, "As the result of challenging and unexpected business circumstances impacting our operations, Klaussner Furniture Industries, Inc. and its direct and indirect subsidiaries must unexpectedly wind down the operations."
“The outcome was not reasonably foreseeable, but due to these unexpected circumstances, the company can no longer sustain the operations. As a result, the company has made the difficult decision to cease operations and is providing as much notice as possible.”
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