Urethane Blog
Another Furniture Casualty
August 28, 2023
Mitchell Gold + Bob Williams abruptly ceases operations
By Larry Adams
August 26, 2023 | 9:49 pm CDT
A sign informing workers and vendors that the company was closed.
Photo By Taylorsville Times
Mitchell Gold + Bob Williams has abruptly shut down its operations telling its employees by letter and email that the company has “recently and unexpectedly learned that we are unable to secure critical financing to continue business operations.
“In the wake of this unfortunate development, the Company will sadly need to wind down operations and terminate the employment of our employees beginning on August 26, 2023.”
According to the report in the Taylorsville Times, the company posted signs on the truck gate and office door of the Taylorsville plant at One Comfortable Place off Millersville Road dated Saturday, August 26.
The signs, according to images taken by Times reporters and posted to their website, said:
“Mitchell Gold + Bob Williams has recently and unexpectedly learned that we are unable to continue business operations.
“Any MG+BW employees that are located at the following NC locations should not report to work as of Monday, August 28th:
- Main Plant: Taylorsville
- Frame Plant: Hiddenite
- NCDC: Statesville
- Any home office remote workers are not to log in
- All home office workers.
“We are sorry about the difficulties this may cause.
“As soon as we have a schedule to get your tools & personal belongings, we will contact you. Thank you.”
A copy of the letter addressed to employees was taped to an entry door. Dated August 26, the letter was from Chris Moye, the interim CEO named to the post in April 2023, who said the current economic climate has presented significant challenges to the furniture industry.
According to the WARN notice letter:
“Because these events were unforeseen, we were unable to provide you and others before notice of this difficult decision.
“Your position will be affected by these events. And, your last day of employment with the company is expected to be on October 25, 2023. Unless you are asked to perform additional services during the 14-day period from that date, or your layoff date is otherwise revised from that date. We are sorry to have to bring you this news.
“There are no ‘bumping rights’ to determine who will be separated and this is a permanent separation.”
According to the notice, workers will receive final wages through their last day of employment. Benefits from the company including health insurance benefits will end on August 31, 2023.
Mitchell Gold was ranked #60 in the FDMC300 list of North American wood products companies. According to the most recent ranking, the company had annual sales of $197.2 million, employed 750 workers, and operated three manufacturing plants encompassing 579,500 total square footage.
This marks the third major company to shutter its doors in August. All three were ranked in the FDMC300 ranking. Of the three, two were North Carolina-based companies.
On Aug. 7, Asheboro, N.C.-based Klaussner Home Furnishings announced it was shuttering its operations effective immediately. The company ranked #36 on the FDMC 300 listing with estimated sales of more than $300 million in 2022.
Much like Mitchell Gold, the company pointed to “challenging and unexpected business circumstances” that impacted their business and forced them to “unexpectedly wind down the operations.” The closure impacted 884 workers, and, of those, more than 800 were employed at five Asheboro, North Carolina, plants, and 58 were employed at a Candor, North Carolina, facility.
Also in August, Solid Comfort, a Fargo, North Dakota-based company closed its doors and began the process of selling its manufacturing plant and auctioning its equipment.
According to its most recent FDMC 300 listing, the company ranked #191, had sales of $34 million, employed 125 workers, and had more than 225,000 square feet of manufacturing space.
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