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Article: Norwalk restructuring.
- Article from:
- Furniture-Today
- Article date:
- June 30, 2008
CopyrightCOPYRIGHT 2008 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Thomas Russell
Four top executives replaced at company
NORWALK, Ohio -- Upholstery manufacturer and retailer Norwalk Furniture is in the midst of a restructuring that has resulted in the replacement of several key executives.
In their place, the company has hired Morris Anderson & Associates, a Chicago-based financial and operational advisor with offices in Cleveland, to help run Norwalk during the transition. Morris Anderson also is working with Cleveland investment banking firm Beacon & Associates to help find an equity partner to take a minority ownership stake in the company.
The restructuring has taken place over past 12 weeks. ...