Stanley Furniture Company News

CHURCHVILLE - Elzie H. Grogg, 85, of Churchville died Monday, May 18, 2009, at Envoy of Staunton.

ROBBINSVILLE Stanley Furniture Co. said last week that it recorded a first-quarter loss and saw sales fall 36.4 percent.

Stanley Furniture Co. Inc. reported Wednesday a $2.4 million loss in the first quarter, compared with a $1 million in net income in the first quarter of 2008.

AMR Corporation first quarter revenues fell 15.0% to $4.84 billion and net loss was $375 million or $1.35 a share.

The Stanley Furniture plant that closed last year has new owners. David Griffin and his father, D.H. Griffin, whose company is based in Greensboro, bought the property earlier this month.

Published: Friday, March 27, 2009 at 2:30 p.m. Last Modified: Friday, March 27, 2009 at 2:30 p.m. A father and son business team from Greensboro has purchased the former Stanley Furniture site on West Center Street in Lexington.

Help is available through the Virginia Employment Commission for the Stanley Furniture Co.

Declining sales and the recession are prompting Stanley Furniture Co. Inc. to cut its work force by about 100 employees.

STANLEYTOWN, Va. a ' Stanley Furniture said today it will cut 100 jobs at its plant here, which employs about 1,500 workers.

Residential furniture orders declined 23 percent in November to a value of $1.55 billion, according to a survey released yesterday by Smith Leonard PPLC, a financial-services company based in High Point.

Bassett Furniture Industries Inc.a s Board of Directors did not declare a quarterly dividend for the second quarter of fiscal 2009.

Stanley Furniture Co. Inc. said in a regulatory filing yesterday that it has received $11 million related to an anti-dumping ruling involving wooden bedroom furniture imported from China.