Industries

For the record - Southern Virginia

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Bassett Furniture Industries Inc., a furniture manufacturer based in Bassett, announced moves to save between $7 million and $8 million. About 50 jobs will be eliminated companywide, including 10 at the company headquarters. In addition, a Mount Airy, N.C., distribution center will be closed with those functions routed to other operations in the U.S. and Asia. Marketing costs will be cut through reduced spending on television advertising and format changes to the customer catalog. (The Martinsville Bulletin)

Citizens Community Bank, of South Hill, announced that since accepting $3 million in capital infusion under the federal Troubled Asset Relief Program, the bank has originated $5.7 million in new loans. (PRNewswire)

Danville Regional Medical Center added four hospitalists to its staff, bringing the total to seven. Hospitalists are physicians who have completed medical school and residency and are board certified in an area of specialty. Their primary focus is the care of hospitalized patients. The hospital undertook a move toward a hospitalist-based care plan in 2004, and hospitalists now handle about 60 percent of the patient load. (Danville Register & Bee)

The Landmark Group, a Winston-Salem, N.C., developer, has proposed a $7.3 million investment to turn the former Martinsville Novelty Corp. furniture plant into a residential facility for 50 to 60 apartment units for working families. The plant, which closed in 1995, is a 90,000-square-foot building on 4.33 acres. (The Martinsville Bulletin)

Longwood University’s Small Business Development Center opened a satellite office in downtown Danville. The center provides financial analysis for small businesses, along with assistance on business plans, marketing efforts and relations with regulatory agencies. (Danville Register & Bee)

The Martinsville-Henry County Economic Development Corp. will open a “furniture cluster” for selling of outlet furniture in the three-story Globman’s building (now Martin Plaza) in uptown Martinsville. Hooker Furniture and Lane Furniture, which operate outlets nearby, will take part in the project. Other companies involved are Bassett Furniture, Leathertrend, Taylor King and KAS Oriental Rugs. (The Martinsville Bulletin)

Stanley Furniture Co. laid off 100 workers at its factory in Stanleytown in Henry County. Stanley still employs 1,000 people in Henry County and also has a facility in North Carolina. (The Roanoke Times)

Triangle Brick Co., of Durham, N.C., dropped plans to open a factory in Pittsylvania County and withdrew its requests for rezoning and special-use permits. The company intended to operate an open-pit, clay/shale mine on 1,000 acres of land off Berry Hill Road. The plan sparked heavy opposition from nearby residents concerned about public health impacts. (Danville Register & Bee)


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