Furniture Brands International
unit Broyhill Furniture Industries will close a plant in Lenoir, N.C., cutting 700 jobs.
St. Louis-based Furniture Brands expects to take a restructuring and impairment charge of $3.3 million, or 7 cents a share, with about penny of those charges to be taken in the second quarter and the remainder in the third quarter.
The plant, which makes Pacemaker case goods, will stop operating in August, the company said.
Furniture Brands produce, sources and markets its products under brand names Broyhill, Lane, Thomasville, Henredon, Drexel Heritage and Maitland-Smith.
The company's stock fell 23 cents, or 1.1%, to $20.66 Monday.
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