Why did Klaussner Home Furnishings in Asheboro shut down?

Klaussner Home Furnishings has been there since 1963 and it was recently announced that it would be closing its operations in Asheboro, but why is the company shutting down?

Several people have lost their jobs after Klaussner Home Furnishings in Asheboro suddenly announced its closure. It has been reported that the company will be shutting down its other locations as well. After the news was confirmed several people took to social media to share their thoughts on the same. The furniture store that offered good deals will be releasing more details in the coming days.

Empty nostalgic retro living room with beige sofa, colored cushions, marble coffee tables, and decoration in front of a beige and white colored wall
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Why did Klaussner Home Furnishings in Asheboro shut down?

In a statement that was released on its website, the company noted that the Asaheboro location was closing down because the “lending source has unexpectedly refused to continue to fund the Company’s operations.”

The statement read: “This outcome was not reasonably foreseeable, but due to these unexpected circumstances, Klaussner can no longer sustain its operations. As a result, Klaussner has made the difficult decision to permanently cease operations and is providing as much notice as possible.”

The company noted that all the outlets will be shut down permanently and the process is currently underway.

What we know about the company

Founded in 1963, Klaussner Home Furnishings has been proving residential furnitures for a reasonable price. It had a range of selections for bedrooms, dining rooms, and more.

In the past, it has also done collections such as Trisha Yearwood Home Collection and Stacey Garcia Home. The company’s eye for style made it one of the top choices for people who were looking to revamp their homes.

70 percent of its furniture was produced domestically.

Young woman at furniture store choosing sofa
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How many employees worked there?

1,100 people reportedly worked in the company. Several employees have come forward and spoken about the shock they received about no longer having a job.

Speaking on this matter, the company said in its statement: “Klaussner is working to provide information and resources to assist with the next steps for displaced employees as it becomes available. This information will be communicated directly to employees via the contact information we have on file.”

No other details have been released so far. At the moment, it is unclear how the company will deal with the remaining stock.

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