Hooker Furnishings Corporation has entered into a definitive agreement to sell its Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen Home Furnishings, Inc. The estimated purchase price, based on the net book value of the assets as of November 2, 2025, is approximately $4.8 million, with the final amount subject to adjustment at closing. As part of the transaction, Magnussen will also assume the lease of Home Meridian's High Point showroom, allowing Hooker to shed around $4.8 million in related lease liabilities and expenses. The company highlighted this move as part of a broader strategy to streamline its portfolio and focus on brands that generate consistent earnings.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Hooker Furniture Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001185185-25-001916), on December 03, 2025, and is solely responsible for the information contained therein.