State News
Email
Print
Vaughn-Bassett to "mothball" Elkin plant
ADVERTISEMENT
Published: December 1, 2008
Updated: 12/01/2008 04:01 pm
ELKIN
A Virginia furniture company has announced it will "mothball" its North Carolina manufacturing plant in sixty days, putting nearly 400 people out of work.
In a statement released Monday, Vaughan-Bassett Furniture said it will temporarily close the plant in Elkin but has no plans to sell it or its equipment.
President and CEO Wyatt Bassett said competition from Asia and the possibility of a prolonged recession have produced the worst slump in the furniture business in at least 30 years. He said the plant could be reopened when demand returns to normal levels.
Bassett said the company will maintain its warehouses in Elkin and Boonville, and will continue to manufacture bedroom furniture at its factory in Galax, Va.
Email
Print
