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Young America’s relationship with Mod Mom Furniture owner Kiersten Hathcock also will end. Hathcock came on board earlier this year as a spokesperson for the brand, with plans to eventually produce a Mod Mom furniture line with Young America. Hathcock, who came to High Point for market, has several meetings lined up with other interested parties. Prillaman said that was one reason the company announced its Young America exit before the start of the High Point Market.
Both Ledger and Tilley previously worked for Stanley as VP of Operations and VP of Product, respectively. The Mead Corporation purchased Stanley Furniture in 1969 and maintained ownership of the company for 10 years. In 1979, Stanley Furniture became part of several leveraged buyouts until, finally, in the late 1980s, Stanley Furniture reemerged as a wholly owned, private entity. When the Wall Street Crash of 1929 hit, Stanley Furniture was in debt from the recent expansion. In order to keep the company alive, the 400 Stanley employees accepted a pay cut and agreed to work ten hours of time for nine hours of pay.
Pottery Barn sells the Stanley-produced Harper and Shelby children’s and teen collections through its PB Teen division. Young America will fulfill orders for Pottery Barn through April 28, but will no longer produce furniture for the brand after that, Prillaman said. On approved returns, the buyer is responsible for the full cost of return packing and shipping.
Nursery furniture represented about 40% of Stanley’s overall sales, which in 2013 totaled $96.9 million. Operating losses deepened to $10.2 million in 2013 from $6.6 million in 2012. Young America’s exit from the high-end nursery market comes on the heels of two other major brands that also quit the market in the past year, Creations and Boori. In late 2003, Stanley Furniture joined Vaughan-Bassett Furniture, Bassett Furniture and 20 other furniture manufacturers in filing an anti-dumping petition with the U.S.
If you continue to use these services, you’re letting us know that you’ve read and agree to the changes. The Chairish Buyer Guarantee ensures that you have complete peace of mind when making a purchase on Chairish. $399$449Fragile and/or Oversized HandlingPrice may vary. Needs to review the security of your connection before proceeding. CO2 Lasers are ideal for marking part ID on organic materials such as wood, glass, plastic and rubber. Following completion of the sale, Richard Ledger was named as CEO and Adam Tilley was named as president.
In 2009, Stanley announced that the manufacturing of its “Young America” line of furniture would be moved to the United States, primarily its North Carolina and Virginia factories. Glenn Prillaman took the reins as president and CEO of the company. In early 1924, Thomas B. Stanley resigned from his position at Basset Furniture in order to gay lussac’s law graph start his own company, Stanley Furniture. He founded the company in his home county of Henry County, Virginia and brought on his nephew, Fred A. Stanley, and his brother, John W. Stanley, as some of the company’s first employees. While building the first Stanley Furniture factory, Stanley decided to build a company town along with it.
If you are unhappy with your purchase for any reason, return it within 30 days for an exchange or full refund. Please note, certain items are not returnable and will be clearly stated on the listing. But he said he is prepared to deal with the loss of the line by looking to other suppliers in the youth furniture segment. Delivery fees within the same standard service zone are included in the listing price. Additional fees may apply outside of the standard service zone. Stanley Furniture announced the company was closing Robbinsville’s last manufacturing plant, laying off 400 workers in a county where only 3,800 people have a job.