United Furniture - Closed over Thanksgiving

Fightin_Aggie

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8:52p, 11/26/22

AG

https://nypost.com/2022/11/25/united-furniture-industries-lays-off-off-its-2700-workers-while-they-were-sleeping/

Any news on what happened here? Seems like a very sudden crash.

https://www.woodworkingnetwork.com/news/woodworking-industry-news/united-furniture-closing-2700-workers-notified-midnight-email-stay

Looks like they own simmons, lane, United and others

I know they get killed by cheap Chinese imports but the implosion seems sudden. They don't look to be public ally traded

The world needs mean tweets

My Pronouns Ultra and MAGA

Trump 2024

Obi Wan Ginobili

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8:24a, 11/27/22

2,700 without their job two days before the holiday season starts.

Completely ****ed

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Adverse Event

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8:36a, 11/27/22

Tip of the recession spear.

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YouBet

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9:56a, 11/27/22

AG

Someone posted elsewhere that they bought another company and used debt from that purchase for cash flow. Rates went up and they couldn't cover it anymore.

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Ag92NGranbury

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In reply to Adverse Event • 3:15p, 11/27/22

AG

Adverse Event said:
Tip of the recession spear.

tide is headed out... we are about to find out who's not wearing a swimsuit

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insulator_king

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In reply to Adverse Event • 6:02p, 11/27/22

AG

Adverse Event said:
Tip of the depression ~~recession~~ spear.

Who thinks this is more probable?

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LMCane

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In reply to insulator_king • 9:54a, 11/28/22

insulator_king said:
Adverse Event said:
Tip of the depression ~~recession~~ spear.
Who thinks this is more probable?

in a reality based world then yes..

in our cheap money, leftists spending trillions of debt world- not a chance

there won't be a depression in the USA until it's the LAST depression in the USA

they will keep kicking the can down the road

until the road ends in a cliff dropping 1,000 feet into rocks.

Cyp0111

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In reply to LMCane • 10:57a, 11/28/22

I think a depression shows up if fed policy continues to tighten past expectations. I think you're seeing slowing in inflation ascross the board but we are not and will not solve supply issues in housing or energy.

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htxag09

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In reply to Obi Wan Ginobili • 12:32p, 11/29/22

AG

Obi Wan Ginobili said:
2,700 without their job two days before the holiday season starts.

Completely ****ed

Wouldn't they be covered under the WARN act?

Obi Wan Ginobili

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In reply to htxag09 • 12:35p, 11/29/22

htxag09 said:
Obi Wan Ginobili said:
2,700 without their job two days before the holiday season starts.

Completely ****ed

Wouldn't they be covered under the WARN act?

Honestly, I have no idea. I'm not educated on the subject. It was just a personal thought on the matter.

EFR

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In reply to htxag09 • 3:14p, 11/29/22

Probably not, there are some exceptions for "unforeseeable business circumstances". On top of that, even if they were supposed to give notice, if they are so broke they shut down overnight the best the employee could hope for is to take their place in line with everyone else they owe money to.

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