September 29, 2008
Press Release:
The Statton Furniture Manufacturing Company, known nationally for producing traditional furniture of exceptional quality and style, wishes to announce its decision to cease operations and close the doors after nearly 85 years of a continuous presence in this community. The Company has been owned and operated by the same Hagerstown family for four generations.
There are many factors that come to bear on this difficult decision. Chief among them has been an increasing movement in the industry toward less expensive overseas manufacturing as well as an eroding base of retail outlets through which the product is distributed. The untimely death earlier this year of Philip J. Statton, former chairman and CEO, has also been a contributing factor as well as the current poor economic climate.
It should be noted that this is not a bankruptcy filing. It is the intention of the Company to sell the remaining inventory and assets in an orderly and organized fashion in order to ensure that the loyal employees of the Company receive all that they are entitled to as well as to satisfy all remaining obligations in full.
The Company further wishes to extend its heartfelt thanks to all those current and former employees who have worked for the Company over the years to make Statton Furniture what it is today. Philo Statton, the founder of the Company, was 31 years old when he started the Statton Furniture Company in 1926 and we believe that he would have been very proud of the Company’s long and distinguished history.
T. Hunt Hardinge
Statton Furniture in Hagerstown to close its doors
Link to Herald Mail Article
By ANDREW SCHOTZ
