Lincolnton Furniture, went into production in January 2012, manufacturing American made furniture. It closed its doors yesterday.
The reason Lincolnton Furniture's closing garnered headlines was that it was hailed last year by President Obama as a venture that would save American jobs and provide inspiration for others to do the same. It did that for a while, but the flagging economy and reduced demand for furniture took its toll.
In an interview, Bruce Cochrane also mentioned being under-capitalized, price competition with Chinese furniture, as well as some unanticipated expenditure on the factory building.
Cochrane, a fifth generation furniture manufacturer, has also said that he was grateful for the opportunity, and would do it again.
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