On July 10, 2025, it was reported, Howard Miller, a family-owned clock and furniture maker with a storied and near century-long history, will wind down operations and close its manufacturing plants by early next year, according to a statement released by the company. The company employs about 195 people at facilities in Zeeland and Traverse City, Mich., as well as two locations in North Carolina. These were legacies of its earlier acquisitions of Hekman and Woodmark, located in Lexington and High Point, respectively. Production is expected to continue into the fourth quarter of 2025, with the business remaining open into 2026 to sell off finished inventory. "We are incredibly disappointed to have reached this point in our journey," Howard J. "Buzz" Miller, president and CEO, said "For nearly a century, we have manufactured clocks, custom cabinets and other furniture designed to enhance the lives of our customers at home. We've been blessed with an incredible workforce of skilled craftspeople and professionals who enabled our company to grow and prosper for decades. But in recent years, a convergence of market influences beyond our control brought us to this point." Miller cited a struggling housing market, rising inflation and interest rates, along with tariffs that disrupted the supply chain and increased costs as factors driving the decision. The company has worked with an investment banker to seek a buyer but has been unable to secure one. Miller said the company would still consider offers. Founded in 1926 by Howard C. Miller, the company became known for its handcrafted chiming clocks, later expanding into curio cabinets and other home furnishings. In 1983, it acquired Hekman Furniture Co., which will also close.
On July 10, 2025, it was reported, Bassett Furniture Inds. reported a modest revenue increase and a return to profitability in its fiscal second quarter. The company highlighted cost-cutting, its U.S. manufacturing base and improved margins for helping to offset the impact of a sluggish housing market that has weighed on consumer demand for home furnishings. For the quarter ended May 31, the company posted consolidated sales of $84.3 million, up 1.1% from $83.4 million in the same period last year. Excluding sales from Noa Home Inc., which closed in late 2024, revenues rose 2.5%. Operating income was $2.5 million, representing 3% of sales, a reversal from a loss of $8.5 million in the prior-year quarter that was driven by $5.5 million in asset impairment charges and $2.7 million in inventory valuation adjustments. Diluted earnings per share improved to 22 cents per share, compared with a loss of 82 cents per share a year earlier. Gross margin reached 55.6%, up 310 basis points, reflecting the absence of last year's inventory charges. Excluding those charges, margins were essentially flat. Selling, general and administrative expenses fell to 52.7% of sales, down 330 basis points, as Bassett benefited from its 2024 restructuring plan and ongoing cost containment measures. The company generated $7 million in operating cash flow during the quarter. By segment, wholesale sales rose 3.1% to $54.2 million, while operating income in that division increased to $8.3 million, or 15.3% of sales. Retail sales climbed 7.5% to $54.2 million, with retail operating income improving to $0.5 million from a loss of $2.2 million last year.
On July 8, 2025, it was reported, Five bedding companies are on the list of American Mattress' top 20 unsecured creditors list for a total of $2.06 million in claims. The specialty sleep retailer filed this week for Chapter 11 protection with the U.S. Bankruptcy Court for the District of Delaware. The American Mattress' filing indicated that the top 20 unsecured creditors have claims of more than $3.76 million, less than double than the total of the five industry players. Adventure Mattress, founded in 2023 by Bob Sherman and Barbara Bradford, sits at the top of the list with an unsecured claim of more than $1.21 million. Serta and Simmons combined are owed $340,372, with Simmons carrying the largest claim of the two at $227,164.59. Tempur-Pedic is listed with a claim of $194.670.60. Bedding Industries of America is owed $175,350.30, and Customatic Sleep Technologies has an unsecured claim of $139,276.40. Here are the other top unsecured creditors to round out the list: Canterbury Logistics, $255,983.83 Schuetz Ventures, $148,846.97 Schoenberg Finkel Beederman Bell & Glazer, LLC, $147,846.61 HH Associates, $126,271.95 Google, $110,427.03 Roosevelt Galleria LLC, $110,000 BMD-I, LLC, $107,432.63 Florida Panasoffkee 470, LLC, $106,288 National Shopping Plazas, $105,134.83 Iversan Limited Partnership, $105,000 LP Holdings 1953, LLC, $96,976.23 DF Oak Park, LLC, $96,029.38 Core Huntley, $88,665.09 Elefherios Kriakos, $88,382.81 (disputed)
On May 28, 2025, it was reported, Dallas Market Center will expand its Nearshoring America initiative in January 2026 with two trade expos aimed at strengthening regional supply chains and connecting U.S. buyers with manufacturers across Latin America. The events are scheduled to coincide with two major Dallas trade shows: the Total Home & Gift Market and Lightovation. The Nearshoring America Expo for home and gift will take place Jan. 7-9, 2026, while the lighting-focused edition will follow Jan. 10-11, 2026. Both expos are designed to support sourcing across the Americas, as businesses continue seeking alternatives to global supply chains that have grown increasingly unpredictable due to geopolitical and logistical challenges. The home and gift expo will be held on the 13th floor of the World Trade Center and features manufacturers specializing in home dcor, textiles, seasonal items, tableware, gifts and outdoor living products. The lighting expo, set on the fourth floor of the Trade Mart during Lightovation, will highlight manufacturers and partners focused on residential and commercial lighting. Exhibitors include makers of lighting fixtures, smart systems, ceiling fans, and custom components. The expos will welcome export-ready manufacturers, sourcing agencies, white-label suppliers and trade organizations. A Nearshoring America Expo focused on apparel and accessories is also in development. Nearshoring America is a year-round sourcing initiative created by Dallas Market Center to connect buyers with trusted regional partners. The program includes trade shows, networking events and educational content to help businesses adapt to supply chain challenges with near-market solutions.
