ASHEBORO, N.C. — Because of what it has described as challenging and unexpected business conditions, Klaussner Home Furnishings said that the company and its subsidiaries are unexpectedly winding down operations.
The company announced on its website Monday that its lending source has unexpectedly refused to continue to fund the company’s operations.
“This 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 said on its website.
Klaussner has been in business since 1963 and is said to employ nearly 900 workers at its seven area manufacturing facilities and its headquarter operations in Asheboro.
The company said it was closing its facilities entirely with the process already underway as of Monday, Aug. 7.
The company said it is working to provide information and resources to assist with next steps for displaced employees as it becomes available. It also noted that this information will be communicated directly with employees based on contact information it has on file.
Company President and CEO David Cybulski did not return a phone call Monday afternoon seeking comment.
Efforts to reach company owner Monomoy Capital have been unsuccessful.
Home News Now will update this story as additional information becomes available.