Woodmarc ceases operations
Former CEO Ruff launches Prestige Furniture
By Furniture Today Staff -- Furniture Today, February 25, 2008
DURHAM, N.C. — Case goods producer and importer Woodmarc Enterprises has gone out of business and former CEO Jerry Ruff has launched a new company called Prestige Furniture.
Woodmarc had closed its case goods factory in Winterset, Iowa, last summer and switched to an import business model. But the company was unprofitable and its owners, investment group Sentinel Acquisitions, decided to cease operations in January, Ruff said.
Woodmarc did not file for bankruptcy, he said.
Ruff is president and an owner, along with other unnamed investors, of Durham, N.C.-based Prestige Furniture, whose line consists of imported bedroom and home entertainment furniture. The product is midpriced with bedroom suites retailing at $1,299 to $1,999 and TV consoles at $349 to $449.
Prestige will exhibit at High Point’s premarket March 3-4 and at the High Point Market April 7-13 in Center Point, space 207.
The company acquired inventory from Woodmarc and also will introduce four new groups, Ruff said.
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