*Originally published in the March 9, 2009 issue of Furniture Today.*
The financial meltdown in the U.S. has caused significant challenges for furniture manufacturers in and outside China. Due to decreased demand, hundreds of furniture factories are said to have closed in China alone in the past year and more plant closings are expected in 2009. That leaves a number of Asian factories in a position to capture some of that business. But the manufacturers themselves say the year ahead won’t be easy. In this special report, Furniture/Today asks some of these manufacturers about the challenges and opportunities they face in the year ahead. It also talks with U.S. furniture wholesalers about how they plan to approach sourcing in these uncertain times. This much is clear: many will stay loyal to their longtime sourcing partners and stick with those who appear on financially stable footing.
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