Ashley Furniture no longer exploring outside investments

Freeman Staff

July 13, 2015

ARCADIA — Ashley Furniture, Inc. announced Monday that it is no longer exploring potential investment options and that all of the company’s stocks will remain owned by the family.

“After many discussions with several great firms, we concluded that the best option for our customers, our employees and our future is to continue our current path,” said CEO Todd Wanek in a statement. “While Ashley, like all U.S. manufacturers must address a challenging environment, it has the benefits of stable ownership, passionate employees, loyal customers, exciting products, and lots and lots of opportunity for continued growth.”

Ashley started in the early 1970s as a small family owned table manufacturer and has grown significantly during the years through reinvestment in new facilities, innovative technologies and expanded retail opportunities. Today, the company is the largest furniture manufacturer in the world.