Business Services Industry
Contract Interiors dumped; Steelcase cancels sale, yanks products, begins new dealership.
Crain's Detroit Business, October, 1996 by Roush, Matt
Grand Rapids furniture giant Steelcase Inc. has yanked its product line from its top Michigan dealer, Contract Interiors Inc., and plans to give the business to a new company run by a dozen Contract Interiors executives. The action follows the abandonment of a deal announced last month that would have seen a Steelcase subsidiary buy Contract Interiors.
Steelcase officials wouldn't comment on the reasons behind the breakdown but confirmed that they stopped shipping to Southfield-based Contract Interiors last Tuesday. The loss could cost Contract Interiors 40 percent to 50 percent of its sales. This week, Steelcase Financial Services Inc., a Steelcase subsidiary, intends to open an office-furniture sales company, to be called WorkPlace Integrators, in the Southfield...
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