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Dear Friends, As a major step in our continuing efforts to set Stanley Furniture Company in a more competitive position for the eventual turn in business, we announced that we will be closing our Lexington, NC manufacturing facility and consolidating all of our North Carolina manufacturing operations in Robbinsville, NC. (Click here for the official press release.) This is part of Stanley Furniture Company’s need to adjust its organizational structure to meet today’s business conditions, but also to set our company in a more competitive position and to regain the profitable operating levels for which we are so well-known. As you know, the housing market is hurting, consumer confidence is low and disposable income is being spent on goods and services seen, at least presently, as more necessary than furniture. We believe these factors will eventually adjust in our favor, and we want to be prepared for that turn in our economy and industry. Although this may appear to be a decision that could somehow impact sales potential, let me assure you of two things: One, we maintain plenty of protective capacity to serve even the most robust sales growth. Two, our service levels will not be affected with the transition of product from our Lexington plant, as the majority of this product has previously been manufactured at our Robbinsville facility. It is very important for you to know that the jobs lost at our Lexington, NC plant are not being moved to Asia or any other overseas source. The company is not changing the ratio of products made domestically versus overseas. Stanley Furniture Company remains committed to being a domestic furniture manufacturer. Our four-part model built upon vast selection, consistent quality, quick shipping and sustainability will simply not work without domestic manufacturing. More than two thirds of our sales revenue comes from products made in the USA. This is true both today and will remain the case even after we close this plant and move its production to our Robbinsville, NC facility. (Click here to read a recent article that appeared in Furniture/Today outlining our “Made in USA” commitment.) It is also important to know that we believe we are not losing market share. We see other companies suffering through this same sluggish economy, and given the turmoil being created by overseas inflation, we believe the import companies would agree that they have their own set of problems to address. Thank you. We at Stanley Furniture Company appreciate your support. If there’s anything you’d like to discuss with me personally, please feel free to email me at gprillaman@stanleyfurniture.com. Sincerely,
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