Moosehead Furniture back on auction block

Passamaquoddy Tribe drops plans for plant

Furniture Today Staff -- Furniture Today, August 11, 2010

MONSON, Maine — Former case goods manufacturer Moosehead Furniture Co., which filed for Chapter 11 bankruptcy protection in January to stave off a bank auction of its assets, is again for sale.

According to a Bangor Daily News article, the local Passamaquoddy Tribe helped stave off the January auction and was considering turning the plant into a large wood pellet mill at the location.

However, a story in the paper this week said that the tribe has decided not to
move forward on those plans. Moosehead will again be put up for auction by Machias Savings Bank, the mortgage holder, on Aug. 31.

Moosehead had been one of the original petitioners to place antidumping duties on wood bedroom furniture imported from China, and received $514,849 in Byrd monies as a result. The company was purchased by a group of investors in 2007, but discontinued manufacturing in fall 2009.