Founder Thomas B. Stanley | Founded 1924 | |
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Stock price STLY (NASDAQ) US$ 0.80 0.00 (-0.26%)24 Mar, 4:00 PM GMT-4 - Disclaimer Headquarters High Point, North Carolina, United States Subsidiaries Stanley Furniture of Martinsville LLC Profiles | ||
Stanley furniture collections
Stanley Furniture is an American furniture manufacturer based in High Point, North Carolina, United States. It was founded in 1924 by Thomas Bahnson Stanley, who later became governor of Virginia. It was originally located near Bassett, and the community it was in was soon named Stanleytown.
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Crestaire collection by stanley furniture
Recent history
In 2009, Stanley announced that the manufacturing of its "Young America" line of furniture would be moved to the United States, primarily its North Carolina and Virginia factories. This same year, R. Glenn Prillaman took the reigns as president and CEO of the company.
In 2010, the firm announced that it would close its Stanleytown manufacturing operation, laying off 530 workers and converting the former factory into a warehouse and distribution center. Over the next few years this facility was phased out as well and was soon shuttered. In 2012, Stanley announced it was relocating its headquarters to High Point.
In April 2014, the company announced it would close its Robbinsville, North Carolina plant, laying off 400 workers; the closure was in spite of the $9 million it had recently invested in the plant when the company had moved manufacturing of its "Young America" furniture line from China to Robbinsville.
Over the past year, the company has struggled to keep up with production, citing quality concerns and difficulties managing its sourcing partner in Vietnam.