Burlington Rugs set to close in April
Lissa Wyman -- Furniture Today, February 13, 2005
Monticello, Ark. — Financially struggling manufacturer Burlington Rugs will close its doors in early April, CEO Gary Brookshire said.
"It is unfortunate this move has become necessary. We almost made the turnaround," said Brookshire, who has led the company since its acquisition in August by Prudential Capital Partners.
"I want to emphasize that we are committed to fully satisfying all the orders we currently have in house," he said. "We appreciate the loyalty of our customers."
The Burlington factory here, which makes tufted bath and accent rugs, will close and the equipment will be sold, said Brookshire. About 175 employees will be affected. The Burlington Rugs name will revert to Burlington Inds., which licenses several of its former brand names.
"We made efforts to sell the facility as an ongoing operation, but unfortunately a buyer could not be found," Brookshire said.
Before the acquisition by Prudential, Burlington Rugs was owned by Yanoor Corp., led by Saeid Korhani. Yanoor had purchased Burlington Rugs and its Monticello Carpet Mills facility in 2001 from Burlington Inds.
Monticello Carpets, the broadloom division of Burlington Rug, was sold last year to Mattel Inds.
Some of today's top carpet and rug industry executives had worked at Burlington Rugs and Monticello. John Graham, who later founded Sphinx by Oriental Weavers, was president of Monticello Mills in the 1970s. Bryan Bogas, another alumnus, was recently named to head the rug divisions of Natco Home, including Central Oriental.
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Burlington Rugs to shut down in April
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