BASSETT, Va., Apr 5, 2010 (GlobeNewswire via COMTEX News Network) -- Bassett Furniture Industries (Nasdaq:BSET), a leading home furnishings manufacturer, has announced plans to reopen an upholstery facility in Newton, N.C. The plant is expected to open at the end of May and will manufacture a new starting price point of sofas, loveseats, chairs, and pillows for Bassett's store network and independent retailers. This new assortment, including 10 new frames and 20 mix and match pillows, represents a 20% reduction in Bassett's current opening price point with no compromise to the Company's quality standards. Furthermore, the new assortment will feature the same warranty offered in Bassett's existing line.
"Our upholstery manufacturing team takes great pride in the precision of their craftsmanship and the speed of their delivery," said Robert H. Spilman Jr., president and chief executive officer at Bassett. "The efficiency of our cellular manufacturing processes has been the hallmark of Bassett's leading service proposition for several years now. This new line will be available to ship to our retailers within 2 to 3 days. We believe we'll be able to use these new products to expand distribution and to drive traffic to our stores.
"In a time when more and more domestic furniture manufacturing has shifted oversees, we are elated to be able to take advantage of a strong workforce in Newton and introduce a new segment to our upholstery line, made right here in United States."
Bassett currently has 430 employees at its Newton complex and will staff the new facility with existing and new employees.
About Bassett Furniture
Bassett Furniture Industries, Inc. (Nasdaq:BSET) is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With approximately 105 Bassett stores, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. The most significant growth opportunity for Bassett continues to be the Company's dedicated retail store program. Bassett's retail strategy includes affordable custom-built furniture that is ready for delivery in the home within 30 days. The stores also feature the latest on-trend furniture styles, more than 750 upholstery fabrics, free in-home design visits, and coordinated decorating accessories. For more information, visit the Company's website at bassettfurniture.com. (BSET-G)
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SOURCE: Bassett Furniture Industries, Inc.
CONTACT: Bassett Furniture Industries, Inc. Media Contacts: Jay S. Moore, Director, Public Relations 276-629-6450 Investor Relations: J. Michael Daniel, VP, Chief Accounting Officer 276-629-6614
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