RUG COMPANIES GIVE CONSIGNMENT THE FLOOR.
HFN: The Weekly Newspaper for the Home Furnishing Network, February, 2004 by Musselman, Faye
ATLANTA-The consignment business is under closer scrutiny in the rug industry in the wake of the recent Nahigian Bros. bankruptcy case, which left many consignors struggling to reclaim goods or get paid for rugs consigned through Nahigian at Marshall Field's leased rug departments.
Executives at major rug companies said consignment has become a way of life in the industry today.
"I don't think there's a dealer out there that doesn't consign rugs -- it's a reality of business today that retailers rely on the financing of their inventories by wholesalers," said Bill Ward, chief executive officer of Obeetee Inc., which has increased its consignments to between 20 percent and 25 percent of its business. "Because of the large quantity of merchandise in...
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