“Only very recently did I learn just how dire the situation had become, how limited the company’s options were,” Belford said.
following the Nov. 21 layoffs at furniture factories in Mississippi, North Carolina and California — resurfaced earlier this month, telling a local business publication he is “devastated by the turn of events” and calling the situation “agonizing.”
David Belford resurfaced earlier this month telling a local business publication he is “devastated by the turn of events.”Nevertheless, sources say Belford has quietly taken an active role in the liquidation, rehiring a handful of employees including the former financial controller, Kim Harper. A former human resources executive, Helen Benefield, has been tapped to help employees recover belongings from shuttered facilities and to reassure them they will receive W2 statements, sources said.
UFI owes Seagrove $1.2 million in unpaid invoices over the past 90 days, Sechrest claims, and owes his brother’s firm half a million dollars. A small blade-sharpening business that worked with both lumber companies is also on the verge of closing, taking another four jobs with it, he said. Suppliers and vendors had been told recently that business was improving and that there was no inkling the company was in the “dire” shape Belford claims. While demand for furniture has slowed as interest rates and inflation rose, UFI has traditionally performed well during recessions, because its products are value-oriented, a former executive told The Post.
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