La-Z-Boy finalizing closure of Newton upholstery facility

Jul. 18, 2022 4:31 PM ETLa-Z-Boy Incorporated (LZB)By: Jessica Kuruthukulangara, SA News Editor
  • La-Z-Boy (NYSE:LZB) said Monday it is finalizing the closure of its Newton, Mississippi upholstery manufacturing facility, which is expected to be effective Sept. 16.
  • The closure was first announced in Jun. 2020 as part of LZB's plan to re-align its business.
  • But as demand picked up soon after, LZB temporarily re-activated a portion of the Newton facility in Oct. 2020.
  • LZB expanded its manufacturing footprint and rebalanced production across over 5M sq. ft. of manufacturing space in the last 2 years to leverage efficiencies and manage backlog.
  • The Newton plant accounts for less than 5% of LZB's branded business total upholstery production.
  • ~180 employees will be affected by the closure.

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