by As I was reading Tom Russell’s article last week speculating on the future of Big Lots and the Broyhill brand, I couldn’t help but wonder what Paul Broyhill, a friend and mentor, would be thinking about this situation.
Knowing Paul, I think this latest news would have come as a second gut punch, preceded when the parent company of Heritage Home Group, other big-name furniture brands, filed for bankruptcy and sold the Broyhill, Drexel, Thomasville and Henredon brands to Authentic Brands Group in 2018 for $38.5 million for all four brands.
Shortly after, we all learned that Big Lots, which then boasted some 1,400 locations in 47 states, had snagged the Broyhill brand for an undisclosed amount later that same year.
Broyhill, as did many domestic furniture makers, had its share of ups and downs, but it not only managed to stay in the race, it often made it to the passing lane of the fast track through prudent investments in its people, plants and processes.
For anyone wanting a quick but comprehensive history of the company, read this article by Elizabeth Broyhill, granddaughter of Ed Broyhill.
In her article, she points out, “While my grandfather certainly was the driving force behind Broyhill Furniture Industries, this story would be incomplete without pointing out that Paul Broyhill, son of J E, drove the business to the heights it became.”
In addition to being a true master of the game, Paul was a visionary, determined to establish the company as a leading-edge domestic producer of furniture.
Paul, who joined the company after World War II, became president and CEO in the early 1960s and held the job until his retirement in 1985.
Under his leadership, Broyhill’s sales grew from $10 million to $325 million, and employment jumped from 1,000 to 7,500.
With Paul at the helm, the company wasn’t just a marvel of manufacturing, it also became one of the first furniture brands to seek exposure through advertising on national game shows and in shelter magazines, and by having Paul and other company executives make personal appearances at the Broyhill Showcase Galleries, which he founded.
Knowing Paul the way I did, I feel that if he were alive today, he would be sadly shaking his head in disbelief, simply not able to comprehend how a well-respected brand that he and his team built would find itself operated by a now financially challenged deep discounter who sought to squeeze a few extra dollars by attaching the Broyhill name to washcloths, towels and accent rugs.
Knowing that, maybe even Paul would agree it might be time to literally and figuratively throw in the towel.
Thank you Ray! Paul Broyhill did much more than build company – he built people. He took the time to mentor, train educate, challenge and develop a devoted management team of people too numerous to mention here. I had the pleasure of starting my career at Broyhill and the lessons I learned from Paul H. Broyhill live on with me to this day.