132-year-old bankrupt furniture brand shuts production facility

Group 1: Real Estate Market - Mortgage rates have decreased from approximately 7.04% on January 16, 2025, to about 6.15% on January 2, 2026, which is positive news for homebuyers and may encourage activity in the real estate market [1] - Homebuyers may wait to see if mortgage rates decline further before making purchasing decisions, indicating a cautious but optimistic outlook for the market [1] Group 2: Furniture Industry Sales - The furniture industry experienced a sales decline of 1.87% in September 2025 and 0.08% in October 2025, with nearly flat sales in November 2025, which saw a slight increase of 0.01% [2][8] - The slow real estate market has contributed to the challenges faced by the furniture sector, alongside rising labor and product costs due to inflation, increased tariffs, and the lingering effects of the Covid pandemic [3] Group 3: Store Closures - Some furniture retailers are closing due to owners retiring, as seen with Tuskers Home Store in Florida and Meiselwitz in Wisconsin, both announcing closures in December [4] - Companies are not only closing retail locations but also shutting down manufacturing facilities, indicating a broader impact on the industry [5] Group 4: Kroehler Furniture - Kroehler Furniture, a 132-year-old company, permanently closed its manufacturing plant in Conover, North Carolina, on December 31, following a Chapter 11 bankruptcy filing [6][8] - The closure of Kroehler's facility will result in the layoffs of 208 employees, highlighting the significant impact of reduced business on employment within the industry [7]