LEXINGTON, N.C. (AP) -- A Virginia-based furniture company plans to consolidate its North Carolina production, cutting 350 jobs in Lexington and adding 200 in Robbinsville.
Stanley Furniture said Tuesday it will close its plant in Lexington by mid-October. Stanley President and CEO Jeffrey Scheffer says the company plans to consolidate North Carolina production in a more modern plant in Robbinsville.
He says the jobs in Robbinsville will be added over the next couple of years.
Stanley will keep about 20 jobs at a warehouse in Lexington.
Scheffer says the combination of a housing slump, shrinking disposable income and slipping consumer confidence led to the decision to consolidate operations.