Ownership deal expected for Harden Furniture
MCCONNELLSVILLE — An announcement is anticipated regarding a new ownership structure for the Harden Furniture company.
Company CEO Gregory Harden said today by email that “we hope to have a release out over the weekend,” or possibly today.
The new ownership structure is expected to place the Harden company on firmer financial footing moving forward, according to a report Thursday in the Furniture Today publication.
The company resumed some limited production in mid-February after operations were briefly suspended following the Jan. 31 sale of company assets at an auction to Big Shoulders Capital, a lender based in Illinois.
The company has about 100 employees, including 80 in production and 20 in administrative positions, Harden said in the Furniture Today report. This compares to 175 employees before the January auction, including about 150 in manufacturing and the rest in administration, the report said.
Gregory Harden today was at the High Point Market home furnishings industry trade show in North Carolina, according to the company. The company is showing much of its inline domestically made case goods and upholstery at the show, said Furniture Today. The show concludes early next week.
Gregory Harden had said in mid-February that the company was “in active negotiations with several parties” and anticipated a “merger or third-party investment between now and April.” He is the fifth generation of Hardens who have been at the head of the company since its start in 1844.
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