A well-known furniture retailer will shut down all operations by the end of 2025, resulting in the layoff of all 30 employees by year's end. The company Progressive Furniture, a division of one of the world's largest furniture manufacturers Sauder Woodworking, cites ongoing trade challenges and the closure of its key supplier in Mexico as primary reasons for the decision.
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The supplier had been responsible for 60% of its product output, and its loss severely impacted operations. Despite distributing through major retailers like Walmart, Target, and Home Depot, the business could not overcome the financial pressures. U.S. tariffs on wood furniture imports from Mexico and Asia, introduced during Donald Trump's presidency, have also contributed to mounting strain. The company will continue to fulfill existing orders and honor warranties in the coming months. Leadership acknowledges the difficult nature of this decision and the profound impact it will have on employees, customers, and business partners alike.
Source: TheMirror