by Potential sale aims to keep upholstery manufacturer in business moving forward
SALTILLO, Miss. — Operations at Mississippi-based upholstery manufacturer Bauhaus Furniture are expected to continue while a purchase agreement continues to be negotiated and finalized.
A company executive told Home News Now that the sale agreement is expected to be reached by the end of this week.
Buyers emerged quickly after company President Daniel Lim issued a letter to employees on Friday, March 7, stating that it planned to close its doors on March 10. Discussions began almost immediately and continued throughout the weekend and through Monday, sources told Home News Now.
Should an agreement be reached, it would continue the operations of a manufacturer of stationary upholstery Lim purchased from La-Z-Boy around early 2015. It currently employs 75 workers, which is down from 100 because of attrition in recent months, an industry source told Home News Now.
“We would love to see this company acquired,” the source told the publication. “It is a fantastic business down there.”
Company officials declined to name any prospective buyers until an agreement is reached. Home News Now will continue to update this story as more information becomes available.
Founded in 1989, the company operates from its manufacturing and administrative offices in Saltillo. A company profile states that it produces sofas, sectionals and occasional chairs in a variety of styles including traditional, casual and contemporary.
For the original breaking news story Home News Now published Saturday about the possible closing, click here.
