Stanley Furniture
Encyclopedia
Stanley Furniture is an American furniture
manufacturer based in Stanleytown
, Henry County
, Virginia
, United States
. It was founded in 1924 by Thomas Bahnson Stanley
, who later became governor of Virginia.
Stanley Furniture is the basis for Stanleytown, essentially a former company town
. The firm recently announced that it would shutter its Stanleytown manufacturing operation, laying off 530 workers and converting the former factory into a warehouse and distribution center.
In 2009, Stanley announced that its line of youth furniture, Young America, would undergo a major overhaul. Stanley ceased all overseas production of the Young America line, moving it to USA, primarily North Carolina and Virginia. Every item shipped from Young America on or after 9/16/2009 has been made in the USA, and comes with a five year manufacturer's warranty. In addition, Young America has introduced new finishes and stains, over 40 available in select collections, and the only cribs in America to be certified by both the GREENGUARD Environmental Institute and Intertek for child safety.
In December 2010, Stanley concluded a rights offering, raising $12 million USD. Stanley then went on to pre-pay in full ($15 million USD + accrued interest) its outstanding debt with Prudential Insurance Company of America, among other lenders. Lenders agreed to waive the premium due on prepayment.
Furniture
Furniture is the mass noun for the movable objects intended to support various human activities such as seating and sleeping in beds, to hold objects at a convenient height for work using horizontal surfaces above the ground, or to store things...
manufacturer based in Stanleytown
Stanleytown, Virginia
Stanleytown is a census-designated place in Henry County, Virginia, United States. The population was 1,515 at the 2000 census. It is part of the Martinsville Micropolitan Statistical Area.-Geography:Stanleytown is located at ....
, Henry County
Henry County, Virginia
As of the census of 2000, there were 57,930 people, 23,910 households, and 16,952 families residing in the county. The population density was 152 people per square mile . There were 25,921 housing units at an average density of 68 per square mile...
, Virginia
Virginia
The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. It was founded in 1924 by Thomas Bahnson Stanley
Thomas Bahnson Stanley
Thomas Bahnson Stanley was an American politician, manufacturer and Holstein cattle breeder.-Early life:...
, who later became governor of Virginia.
Stanley Furniture is the basis for Stanleytown, essentially a former company town
Company town
A company town is a town or city in which much or all real estate, buildings , utilities, hospitals, small businesses such as grocery stores and gas stations, and other necessities or luxuries of life within its borders are owned by a single company...
. The firm recently announced that it would shutter its Stanleytown manufacturing operation, laying off 530 workers and converting the former factory into a warehouse and distribution center.
In 2009, Stanley announced that its line of youth furniture, Young America, would undergo a major overhaul. Stanley ceased all overseas production of the Young America line, moving it to USA, primarily North Carolina and Virginia. Every item shipped from Young America on or after 9/16/2009 has been made in the USA, and comes with a five year manufacturer's warranty. In addition, Young America has introduced new finishes and stains, over 40 available in select collections, and the only cribs in America to be certified by both the GREENGUARD Environmental Institute and Intertek for child safety.
In December 2010, Stanley concluded a rights offering, raising $12 million USD. Stanley then went on to pre-pay in full ($15 million USD + accrued interest) its outstanding debt with Prudential Insurance Company of America, among other lenders. Lenders agreed to waive the premium due on prepayment.