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  • INDUSTRY NEWS

    • On June 03, 2021, it was reported, Dudley Flanders Sr., CEO of outdoor furniture producer Lloyd Flanders, passed away at the age of 69 on May 31. Born and raised in Fort Smith, Ark., Flanders graduated from Dartmouth College in 1975 and returned to Arkansas to work for Flanders Manufacturing Co., his parents' case goods company. In 1982, Flanders and his father acquired the Lloyd Manufacturing Co. in Menominee, Mich., and founded Lloyd Flanders Inds. He became president of Lloyd Flanders in 1983 and CEO in 1991. Under his guidance, the company became an industry leader in all-weather wicker. Flanders served in countless industry leadership positions over the years, culminating in his receipt in 2015 of the illustrious Lifetime Achievement Award from the International Casual Furnishings Assn.
    • On May 27, 2021, it was reported, bedding manufacturer Tempur Sealy International will acquire Dreams, a specialty bedding retailer located in the United Kingdom, for about $475 million. The company said the acquisition, primarily from an affiliate of Sun Capital Partners, will accelerate the its growth in the largest European beading market, nearly doubling the company's international sales compared with 2020. Dreams currently sells Tempurpedic and Sealy.
    • On May 24, 2021, it was reported, Tuesday Morning will be back on the Nasdaq Capital Market as of May 25 under the ticker symbol TUEM. The off-price home goods and decor retailer attributed the relisting to its recent financial and operational achievements. The company exited Chapter 11 bankruptcy this past January after exiting nearly 200 stores and currently operates 490 stores in 40 states. Earlier this month, it hired retail veteran Fred Hand as CEO. Hand described the relisting as "a landmark moment in the next part of our journey as a leader in the off-price retail market." In addition Tuesday Morning has named retail veteran Marc Katz interim chief financial officer.
    • On May 24, 2021, it was reported, known for its style leadership and unrivaled portfolio of textiles, wallpaper, trims, floor coverings and finished goods, the design house F. Schumacher & Co. (FSCO) has acquired Backdrop, a fast-growing, digitally native paint and design brand founded in 2018 by husband/wife team Natalie and Caleb Ebel. This acquisition represents FSCO's inaugural entry into the $30 billion per year architectural paint market and augments the company's stable of global design brands, which includes Schumacher, the legendary textile and wallpaper brand founded in 1889; Patterson Flynn Martin, the luxury rug and carpet brand; and Frederic, a lifestyle magazine led by editor-in-chief Dara Caponigro.