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WECO Polstermobel GmbH & Co. Closed WECO North America, LLC

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WECO Polestermobel GmbH & Co., the German Parent Company of WECO North America, LLC, has made the decision to cease North American operations. Effective August 30th, 2002, the Charlotte, NC operations and sales support office, as well as the High Point showroom at 220 Elm, were closed. Wolfgang Daniels, CEO, WECO Polstermobel GmbH & Co. says, “We regret that circumstances have necessitated this decision. We hope that the US retailers we have worked so hard to gain will continue to work directly with our corporate offices in Germany. While this situation is not ideal, we have a fully staffed export office in Germany and feel that our existing and any future customers will be pleased with the level of service they receive.” Ron Freeman, Jr., Director, WECO North America, related, “Based on the circumstances, I fully agree with and support WECO’s decision and strategy. It has been a pleasure working with them and I wish them much continued success.” Mr. Daniels added, “We would also like to sincerely express our gratitude to Mr. Freeman and the tremendous job that he did for us over the last 18 months. Mr. Freeman created a seamless sales and operations strategy and positioned our brand perfectly for our North American push. It is disappointing that WECO will not be able to continue to support this infrastructure.” Mr. Daniels concluded, “WECO would like to encourage US retailers to visit our booth during future Cologne Furniture Fairs to learn more about our complete selection of products and features.”