TEL AVIV (MarketWatch) -- Ethan Allen Interiors Inc., the Danbury, Conn., producer and retailer of home furnishings, said late on Tuesday it would consolidate the operations of its Eldred, Pa., upholstery-manufacturing plant and several retail-service centers, a move affecting a total of 350 jobs. In the second half of fiscal 2009 ending June 30, Ethan Allen said, it will record mostly non-cash restructuring charges of 18 cents to 20 cents a share. The company owns the real estate associated with the Eldred plant. The output from the plant will be transferred to company facilities in North Carolina and California, where Ethan Allen plans to expand production. The business of the retail centers will be transferred to other locations in the same markets, Ethan Allen said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.






Go to Full Article