Craftique ceases production
Heath E. Combs -- Furniture Today, December 17, 2012
MEBANE, N.C. - Officials with domestic high-end case goods manufacturer Craftique Furniture said it will continue with plans to liquidate, selling equipment and other assets over the next two to three months.
No sale date has been set yet for those items, according to co-owner Craig Shoemaker, and the company isn't likely to be sold.
"Having gone this long a period of time I don't think selling it is a realistic option now. Certainly if somebody came along we'd be happy to talk to them, but having gone as long as we have without much activity, I just don't think it's likely to take place at this point," Shoemaker said.
Craftique reported in March that it planned to cease manufacturing and retail operations due to a tough economy and shrinking consumer demand for heirloom quality furnishings. It has not filed for bankruptcy protection.
The company laid off its remaining 20 production employees about two weeks ago.
Craftique was founded in 1946 by L.P. Best, who sold the company to Pulaski Furniture in 1988.
In 1997 it was purchased by a management group that included veterans of Pennsylvania House, Singer and Traditions France, including Shoemaker and John Erwin. Among its collections were licensed lines with Biltmore House and the Thomas Day Restoration Foundation.