Vendor pays Rowe $725K in settlement
By Furniture Today Staff -- Furniture Today, March 14, 2005
McLean, Va. — The Rowe Cos. and subsidiary, Rowe Furniture have settled with a vendor to resolve litigation over products and services the unidentified vendor provided.
According to a filing with the Securities and Exchange Commission, the vendor agreed to pay the upholstery manufacturer and retailer $725,000 in cash, $600,000 of which was paid Feb. 2. The other $125,000 is to be paid by May 3.
A spokesman for Rowe said the company signed a confidentiality agreement not to divulge other information about the vendor. According to the 8-K, the parties also agreed to the dismissal of all pending claims against each other.
