For sale: Flexsteel lists equipment from shuttered Georgia plant in online auction

DUBUQUE, Iowa – Flexsteel is selling various woodworking machines and furniture manufacturing equipment used at its Dublin, Ga., plant that was shuttered earlier this year.

An online auction, held by Heritage Global Partners and Integra Asset, began May 7 and will end May 21. Prospective bidders can preview the machinery on May 20 from 8 a.m.-4 p.m. ET by appointment.

Items listed for sale include Komo routers, Gerber fabric cutters, a DurkOpp Adler sewing machine, compressors, and various forklifts and other material handling vehicles.

Flexsteel announced the closure of the Dublin facility in its second quarter earnings call early February. On Feb. 9, 154 employees were laid off. At the time, the company said the closure of the facility was expected to be completed by the end of the company’s fiscal fourth quarter, which ends June 30. Once finished, the company expects annualized savings in the range of $4 million to $4.5 million. The facility will be listed for sale.

Flexsteel allocated between $2.5 million and $3.2 million for employee separations, along with around $700,000 in other expenses.

In third quarter earnings reported April 30, the company recorded $107.2 million in sales, an 8.2% increase over the same quarter last year. The company saw similar gains in the second quarter.

See also:

  • Flexsteel records another strong quarter in Q3, continuing Q2 momentum
  • Flexsteel names Schmidt new CEO

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