Hoboken Floors, a 77-year old
distributor based in Wayne, N.J., is closing its doors, according to New Jersey
newspaperThe Record. In a letter
to employees, CFO Lawrence Grossman noted that the company’s decision to
shutter its business was based on an “inability to acquire additional funding
which we believe would have avoided the need for a facility closing,” the paper
reported.
The move
follows the recent change of top executives at the distributor. Longtime
president Ira Lefkowitz resigned from his post in June. His brother Joel bowed
out as CEO last month. Mark D. Steele, an executive with more than 20 years of
operations and manufacturing experience outside the flooring industry, was
tapped to head the company.
Hoboken
Floors distributes a wide range of hard-surface flooring including wood,
laminate, resilient and ceramic tile from 26 locations around the U.S. The
company also operates design centers in New York and Boston.
Calls seeking comment were
not returned.
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