Patrician Furniture to close its doors after 49 years
A High Point furniture company is preparing to shut its doors after nearly 50 years in business.
Patrician Furniture will close its headquarters at 1107 W. Market Center Drive by the end of the year, according to its parent company, Liberty Diversified International, Inc., or LDI, of New Hope, Minn.
The closure will cost Patrician’s 36 employees their jobs. The work force will be let go in phased layoffs leading up to the shutdown, according to the company.
Patrician was founded in High Point in 1964 by the Stout family. Three generations of the family ran the company until it was acquired by Safco Products in 2008. Safco Products is owned by LDI and is also based in New Hope, Minn.
Patrician designs and manufactures furniture for corporate, hospitality, health care and government markets.
The closure was announced to employees last month.
“This is a sad day for a great American brand, for our customers and our people in the High Point community,” said Nat Porter, general manager of Patrician and Safco Products Company.
LDI spokeswoman Polly Filing said a variety of factors led to the company’s decision to close down.
“The decision to close Patrician was extremely difficult. Patrician did have a good name, and we tried to leverage that during the five years we owned the company,” said Filing. “The economy and mixed success on product launches hurt our position.”
The company explored many different options, including the sale of Patrician and the brand, she added, before deciding to permanently close and cease production under the Patrician brand. LDI is not transferring Patrician production to any other facilities.
Filing said the decision was not part of a broader company restructuring.
Patrician’s employees work in manufacturing and design, as well as support functions, such as customer service. Filing said the employees will be eligible for a severance package, which will include outplacement services.
The layoff schedule may be adjusted based on production needs, she added.
Patrician is working to fulfill outstanding customer orders, all of which will be shipped prior to the shutdown, according to the company.
According to its website, LDI, which is privately-held, has 1,400 employees in companies that include paper and packaging, building products and precision machining.