Home Line Inds. intends to liquidate inventory, close
Heath E. Combs -- Furniture Today, April 18, 2011
PHILADEPHIA — Importer and manufacturer Home Line Inds. indicated in a memo released today that it is working on liquidating its inventory and will close.
The memo said the four partners in the business had decided the move was necessary, but didn't explain in detail why the business would close.
"It is with much regret and sadness that we have to announce that Home Line, our family's business for three generations, has to come to an unceremonious end. It's been a topic of rampant speculation for some time now," said a memo released today by President Bret Vernekoff and Executive Vice President Josh Verne.
Company officials weren't immediately available for further comment.
Home Line recently pulled out of the High Point Market and began operating some of its business on a cash-on-delivery basis. Company officials said earlier that Home Line was working through issues related to imported products, and was reducing overhead costs.
Home Line and MIE International, a Florida corporation that sells home furnishings and is at the same address as Home Line's headquarters, are facing a lawsuit filed in early April from Global Link Logistics alleging breach of contract, fraud and deceit. Officials with Home Line have said the claims, filed in U.S. District Court in Eastern Pennsylvania, are false.
Galasso Trucking also is alleging in cross claims that Home Line stole contents of certain shipping containers that were in its possession.
Home Line, which is more than four decades old, has distribution centers in Philadelphia, Chicago and High Point and also operates an upholstery manufacturing facility in Asheboro, N.C. The status of the upholstery plant wasn't immediately clear.
The memo was sent internally within Home Line but also has been circulated outside the company, and Furniture/Today received copies from more than one source.
In it, Vernekoff and Block said they "anticipate staying in this business and will help support every one of you in any way we can in the future."
"We sincerely hope our paths continue to cross and the friendships you have made are always there. Our lines will be open to anyone at anytime that wants to speak about Home Line," the memo said.
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