Case goods maker Statton Furniture Mfg. to close
Family-operated company started in 1926
Heath Combs -- Furniture Today, September 30, 2008
HAGERSTOWN, Md. — Officials with Statton Furniture Mfg. Co., a domestic producer of high-end solid cherry 18th and 19th century case goods here, say the company will close after 82 years.The family-operated company made the decision to liquidate its assets so it would not be put in a situation where it may have to file for bankruptcy protection, said President T. Hunt Hardinge III.
"It was a decision felt had to be proactive. If we walked away we could avoid bankruptcy," he said. "I think people are really scared to buy right now and orders just truly dried up over the summer. We just don't have the reserves to sustain operations."
In the last 15 years Statton's employment has declined from 200 employees to just 38 remaining at the plant, Hardinge said.
He said that unlike past years, earnings did not improve in the third quarter this year. Pressure from imports in the past several years and the loss of some retail customers also have hurt.
Another blow came in January with the death of company CEO and Chairman Philip J. Statton, who had been with the company since 1972 and was a grandson of founder Philo Statton.
The current financial crisis has also contributed to the company's decline, Hardinge said.
"My grandfather founded the company in 1926," said Hardinge, who also is a grandson of Philo Statton. "We tried hard and diligently to keep operation going but felt this was the time to do it and we are going out with out heads high.
"I think we can walk away proud of our history, that we made a terrific product and didn't lower our standards."
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If there are any former Statton people who with talent, passion and 21st century skills, wish to continue in producing fine case goods, I would welcome exploring opportunities. Please contact me at 646-441-7900.
Passionate Industry Veteran - 2008-30-9 09:48:32 EDT -
It's sad. Quality people building quality furniture. With this mess on Wall street and in D.C. - hold on folks! I don't think we're at the bottom yet!
Ray Kenney - 2008-30-9 09:19:54 EDT -
Can't help but be struck by the irony in the contrasting of the C-R and Statton stories. Statton departs with complete dignity and integrity.....merely as a casualty of changing times. Their products will be coveted heirlooms for the next 200 years, and they were not willing to compromise their standards simply to exist in an industry that no longer valued superior quality.
Meanwhile C-R will continue to thrash around, like a crippled hog at slaughter time...toward their inevitable final time of irrelevancy. Their lines are still marketed; but, the products bear ZERO of the benchmarks that distinguished them in their prime.
Interesting times for a struggling industry.
Mike Howe - 2008-30-9 05:55:51 EDT -
Statton made one of the highest levels of quality furniure. However ,the decline of decorating with 18th century designs and consumers increasingly seeking lower price points, the industry moved away from 18th century and into American casual with the Bob Timberlake look which was the start of a downward spiral for Statton.
American casual then got into cleaner lines with Crate & Barrel and skyrocketed in the late 1990's to take the Crate to over 120 stores today. Pottery Barn emulated the same theme and tiered itself just above Crate & Barrel and between the two took young consumers away from even considering an 18th Century look.
An end of an era, but that was in the 20th century, and we have moved on to the 21st century in far more than a turn of a calender page.
Rob Cather - 2008-30-9 05:41:16 EDT
Statton shutting down
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