Hooker Furnishings Corporation announced its decision to exit its Savannah, Georgia distribution center and consolidate operations into existing facilities. The Savannah facility, opened in October 2021 for the Home Meridian segment’s Accentrics Home (ACH) brand, became unsustainable due to a sharp rise in post-COVID container freight rates.
The company liquidated ACH's inventory and closed the brand in 2024 as part of a larger plan to exit unprofitable businesses within Home Meridian. This strategic move is expected to incur net charges of between $1.6 million and $2.0 million in fiscal 2025 and between $3.0 million and $4.0 million in fiscal 2026.
Despite these short-term costs, Hooker Furnishings anticipates realizing annualized savings of between $4.0 million and $4.5 million beginning in fiscal 2027. The company is working with employees, its landlord, and new tenants to ensure a smooth transition for affected personnel.
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