A maverick of sofas rearranges the furniture business

Article Abstract:

Mitchell Gold was fired from Lane, so he started his own furniture business with a friend for about $90,000 in 1989. The pair was just bought out by Rowe Furniture Corp. because the corporation liked the niche that Mitchell Gold Co. had carved for the sofa and chair company. That niche is the small, compared to typical furniture stores, chain stores in malls like Pottery Barn and Restoration Hardware. The style is simple, solid-color, basic design that won't clash with anything. The downside is that if all the yuppies in a given area buy Mitchell Gold furniture from the local mall, they and all their friends will have the same stuff. That is why the little company will change the choices every six months or so.

Company Planning/Goals, Executive changes & profiles, Channels of Distribution, Furniture and Homefurnishings, Furniture & Furnishings, Whsle, Furniture and Home Furnishing Wholesalers, Business to Business, Planning, Marketing, Furniture industry, Furniture, Rowe Furniture Corp. (Arlington, Virginia), ROW, Mitchell Gold Co.

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Levitz plans to cut 25% of work force, close 27 stores in latest recovery effort

Article Abstract:

Predicting profitability by the end of l999, Levitz Furniture's new chairman and CEO, Edward L. Grund, announced it will take several steps to make that happen while it works to come out of Chapter 11 protection. The latest announcement is a 25% cut in the firm's workforce and the closing of 27 of its 90 stores, in addition to closing 19 warehouses and sprucing up some stores. While three new stores will open in 1999, they will be smaller and more congenial.

Comment:

Company to reduce workforce by 25% and close 27 stores

Facilities & equipment, Furniture and Homefurnishings Stores, Furniture & Furnishings Stores, Furniture and Home Furnishings Stores, Furniture stores, Buildings and facilities, Levitz Furniture Corp.

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