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Judge orders Averett dispute to arbitration
Averett University must resolve its $20M endowment dispute with ex-CFO and investment firm GSIS through arbitration, per federal court order.
Not wasting away: Hooker Furnishings to launch Margaritaville collection
Hooker Furnishings will launch the Margaritaville home collection at High Point Market, thanks to an exclusive licensing partnership.
Transco pipeline to expand for Virginia power demand
In May, Tulsa, Oklahoma-based energy company Williams announced an expansion of its Transcontinental Gas Pipe Line, a move designed to help meet Virginia’s voracious appetite for power. Currently extending 10,000 miles from South Texas to New York, the pipeline, better known as Transco, will be expanded to carry an additio[...]
Bassett CEO: 3 strategies drove Q2 return to profitability
Despite downward pressures stubbornly weighing on the industry, Bassett Furniture posted a return to profitability in the second quarter.
South Hill, Mecklenburg team on new industrial park
South Hill and Mecklenburg County officials want to ensure the region’s economic future doesn’t hinge entirely on data centers. This spring, county supervisors and town council members agreed to form the Route 58 Activation Corridor Regional Industrial Facility Authority. Regional authorities allow local governments [...]
Bassett CEO Rob Spilman talks tariff strategy, supply chain resilience
Henry County’s Bassett Furniture is taking a solutions-focused approach to protect profitability and support its dealer network amid uncertainty.
Hooker restructuring targets $25M savings by FY27
Hooker Furnishings launches restructuring to cut $25M in fixed costs by FY27, closing warehouses and expanding overseas operations for savings.
Mecklenburg says no to future large solar projects
Mecklenburg County halts future utility-scale solar farms, citing concerns about aesthetics, land use and financial impact.
Danville’s River District Association CEO resigns
Diana Schwartz is resigning as CEO of Danville’s River District Association, effective June 5.
Georgia-Pacific to close Emporia mill, cutting 550+ jobs
Georgia-Pacific will permanently close its Emporia plywood mill, cutting 550 jobs. The shutdown deals another economic blow to Southern Virginia.
Chase City to turn old school into apartments
After years of debate, Chase City has approved plans to convert the long-shuttered Robert E. Lee school into 25 apartments led by Echelon Resources.
Henry County eyes $1.2M sale of 1,200-acre industrial site
Henry County's IDA has signed a deal offering a company the option to buy a 1,200-acre industrial site near Patriot Centre for $1.2M, boosting job prospects.
