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Bassett returns to profitability in Q4, beats expectations
Bassett Furniture reported revenue of $84.3 million in the fourth quarter, an 11% decrease from last year, on Wednesday. However, a positive operating income of $900,000 means the company has returned to profitability after five consecutive quarters in the red. The Henry County home furniture manufacturer and retailer beat expectations by a long shot, with […]
Press Glass shifts N.C. operations to Henry County
Press Glass, a fabricator of flat glass for the commercial construction industry, is shuttering its Stoneville, North Carolina, operation and moving toward fabricating and delivering all products from its operation in Ridgeway, where the company has produced glass since 2020. Of 178 workers at the North Carolina plant, 110 are transferring to Press Glass’ Virginia […]
Bassett Furniture reduces workforce by 40
Bassett Furniture has announced a series of layoffs and retirements in a bid to better match its cost structure to the current rate of business, the home furniture manufacturer and retailer said in a news release Wednesday. This round of reductions, which included layoffs, early retirements and attrition, impacted 40 workers. Since the start of […]
Bassett Furniture names new chief marketing officer
Home furniture manufacturer and retailer Bassett Furniture has named Tony Chivari as its new chief marketing officer. Chivari has held similar positions with 1-800-Flowers.com, Gem Shopping Network and Things Remembered. “We are very excited to welcome Tony to the Bassett team as we continue our journey to become a national omnichannel provider of home furnishings,” […]
Bassett reports Q3 loss, with performance hurt by cyberattack
Bassett Furniture reported $75.6 million in consolidated third quarter sales, a 13.3% decline from last year and a 9% drop from last quarter. It also recorded an operating loss of $6.4 million, its fifth consecutive loss. The overall loss included a $1.2 million loss on a logistical services contract the company chose to abandon to […]
Launch pads
In the 2000s, economic development leaders in Southern Virginia strategized a path for building back a regional economy decimated by lost textiles jobs. These visionaries, according to Linda Green, executive director for the Southern Virginia Regional Alliance, decided to invest in industrial parks and other locations readied for manufacturing operations. “We have been very blessed […]
A practical plan for U.S. 220
Picture an hourglass: Flip the timer over, and the sand at the top funnels through a small opening to pool in the wider receptacle at its bottom. Now imagine if that hole in the middle were wider; sand would flow more freely. That’s how business leaders in Martinsville see the U.S. Route 220 corridor between […]
Lester Group acquires Williamsburg building supply company
The Lester Group, a Martinsville-based company with a diverse portfolio including lumber products and real estate development, acquired Williamsburg-based Custom Builder Supply on June 3, the company announced earlier in June. Lester Group CEO Jay Dickens declined to release financial terms of the deal. Randy Cooper founded Custom Builder Supply in 1988 and worked there […]
Global apparel company VF to leave Martinsville in 2025
VF Corp., a Denver-based global apparel and footwear company with brands including Vans, The North Face, Timberland and Dickies, plans to close its distribution center in Martinsville in March 2025, the company confirmed Wednesday. “As part of VF’s Reinvent strategy, we have evaluated how we are shipping products to best meet the needs of our […]
Broadband, renewable energy focuses for rural development, USDA administrator says
Rural communities can improve their economy and quality of life, Andrew Berke, administrator for the U.S. Department of Agriculture’s Rural Utilities Service, stressed during the opening of the fifth annual Investing in Rural America conference, held Tuesday at the Hotel Roanoke & Conference Center. The Federal Reserve Bank of Richmond hosts the two-day Investing in […]
Henry County airport expansion underway
Blue Ridge Regional Airport in Henry County has completed a larger apron for airplane parking and will soon extend its 5,002-foot runway to 6,000 feet — long enough to accommodate executive jets. A new terminal is also planned as part of a package of about $30 million in upgrades for the airport, according to Jason […]
Southern Va. Big Deal: Shattering records
Poland-based Press Glass, a flat-glass fabricator for the commercial construction industry, will gain a competitive edge when it breaks ground on a $155.2 million expansion of its Ridgeway plant in the second quarter. It’s the single largest investment by a business in Henry County‘s history, topping packaging manufacturer Crown Holdings’ $145 million investment in 2021, [&hellip[...]
