HIGH POINT, N.C. — It's a trend we're seeing across the Triad.
Another furniture company is closing up shop permanently.
Leggett & Platt is permanently closing in High Point, leaving 158 people searching for a new job.
It's a trend in the triad that we've seen over the last few years.
In 2023, Klaussner Furniture in Asheboro closed and laid off more than 800 people.
In 2022, United Furniture Industries in High Point and Winston Salem left 270 people looking for a new job.
With High Point known for being the furniture capital of the world, what does it mean for the city?
High Point Economic Development Director, Peter Bishop, said the industry is just shifting.
"Will we see people, you know, assembling chairs, tables, and couches in high point? Maybe not," said Bishop. "That may remain in Asia, but we will see the final assembly, finishing design, and corporate functions. I really want to stress that design point because that's one area that High Point is very strong at."
Bishop said a lot of the shifts recently come after a dip in the market.
He said during COVID-19, everyone was spending a lot of time in their homes, which ramped up buying more home furnishing items.
"There was a significant bump in furniture activity in that 2020 to 2022 range, and so now we're sort of on the downside of that hill of that crest of activity," said Bishop. "Furniture is a tough business, it can be a low-margin business at times, and with so much production overseas and then shipping cost becomes a part of that element."
He said after COVID, that's went things dipped.
This doesn't mean all is lost in the furniture industry for the Triad. Bishop said there's growth in the industry still.
Ethicraft is opening a manufacturing and distribution operation in Gallimore Dairy Industrial Park.
Schwung Furniture, which does lighting and decorative pieces, bought and is re-purposing an old mill for a new showroom and corporate headquarters facility.
Also, the High Point Furniture Market still continues to be the largest furniture trade show that brings in a massive economic boost.
"The High Point Market is the largest furniture trade show in the world," said Bishop. "When you combine the fall and the spring markets together, the economic impact of that event is the largest economic impact of an event in the state of North Carolina, and that economic impact is even greater than that of the Super Bowl annually."
He said it's an incredibly significant buying, selling, and showing event and because of that event, there are many furniture showrooms, furniture headquarters within the city, a lot of interior designers and firms that design furniture.
He said while furniture manufacturing mostly takes place overseas now, the area is ramping into design.
There are a lot of upholstery, lighting, carpeting, tapestries, and case goods made in High Point as well.
"We're still seeing furniture growth," he said. "We're still seeing folks come to High Point because we are that furniture capital, so I believe that furniture will remain part of our targeted industry and an industry we wanna support."
Bishop said the city also has diversified the industry. While furniture is a big player, there are life sciences, manufacturing, distribution, and food and beverage.
The city is helping workers find a place to work after the layoffs at Leggett & Platt.