Inwood Furniture Closing Thanksgiving Eve; Jasper Company Cites Declining Demand

JASPER (LOCAL SOURCES) — Inwood Office Furniture announced Friday morning, it is ceasing operations the day before Thanksgiving.

Citing a declining demand for wood office furniture, Inwood Office Furniture will close November 26th.

“As the demand for quality wood private office furniture continues to decline, and because we have a committed purchaser for our plant and land, I regret to announce” the closer, company chairman Glen Sturm said in a press release.

Inwood has 85 employees. It was founded in 1948 as the Jasper Table Company.

Sturm noted in the press release the changes in the economy, work styles and technology have negatively affected the market for Inwood products, and he said those affects have already been felt in the community.

“Beginning in 2009, we hoped the economy would rebound and the market for wood office furniture would return, but the last few years have caused us to believe this will not be the case.”

Sturm said the closing will be “and orderly wind-down.” All employees and vendors will be paid in full, the release said. The company’s ability to fund operations the last six years has been “based upon the long-term financial success of our company from the previous years of operation. The changes in our market simply cannot be sustained indefinitely,” Sturm said.

“This has been a very difficult and sad decision to make,” Sturm said. “For 66 years, this company has been able to be a vibrant source of employment for generations of individuals and families. This has always been our most important and cherished core value. Not being able to continue to provide jobs for local people and their families, and to have the efforts and sacrifices of our people for so many years end without them being able to voluntarily retire with us, will always haunt me.”

Braun Family Properties LLC is purchasing the plant and land at the corner of East 15th and Cherry streets. Mike Braun says building space will be leased in the future.

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