| Business Summary | | Krause's
Furniture,
Inc.
is
a
vertically
integrated
manufacturer,
retailer
and
wholesaler
of
made-to-order
upholstered
furniture
and
accessories.
Customers
can
choose
from
more
than
60
styles
and
40
sizes
of
sofas,
incliners,
recliners,
sectionals,
sofabeds
and
chairs,
which
they
can
customize
with
800
fabrics
and
50
leathers.
The
Company
currently
operates
99
furniture
showrooms
under
the
Krause's
(83
showrooms)
and
Castro
Convertibles
(16
showrooms)
brand
names
in
14
states,
with
57
of
those
showrooms
in
California
and
in
the
New
York
City
metropolitan
area,
including
New
York,
New
Jersey
and
Connecticut.
In
July
2001,
the
Company
and
its
subsidiaries
filed
voluntary
petitions
under
Chapter
11
of
the
United
States
Bankruptcy
Code. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Krause's
Furniture,
Inc.
is
a
vertically
integrated
manufaturer
and
retailer
of
made-to-order
upholstered
furniture
and
accessories.
KFI
operates
99
furniture
showrooms
under
the
Krause's
and
Castro
Convertibles
brand
names
in
14
states.
For
the
26
weeks
ended
6/24/01,
revenues
fell
13%
to
$66.4
million.
Net
loss
applicable
to
Common
totalled
$28.2
million,
up
from
$8.8
million.
Results
reflect
a
reduction
in
same
store
sales
and
a
$10.9
million
asset
impairment
charge. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Philip Hawley, 74 Chairman
and CEO | $260K | Herbert Friedman, 49 Pres | 167K | Thomas Delitto, 47 Vice
Chairman | -- | Robert Burton, 59 Exec.
VP and CFO | 156K | Elizabeth Galliher Exec.
VP, CIO | -- | Dollar amounts are as of 31-Jan-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|