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News To Know: Corsicana, Lexington Home Brands, Magniflex, and more

Each week, The FAM brings you the news you need to know as short, digestible snippets.

Legends Furniture is making proactive moves in the midst of a challenging first half of 2022, adding significant horsepower to its Finance, Operations and HR teams for a second time since the pandemic started. A few hires replaced long term employees who retired, but most were proactive moves for future growth.

The Finance Department added Gail Stelling as Director of Finance. Gail came from the Arizona Commerce Authority, and she provides a wealth of knowledge and experience to her team. The department also brought on Tanya Pacheco and Desiree Gomes as AR and AP specialists respectively.

Operations added data analysis expert Chim Nga as an Operations Specialist, Tina Heying as Logistics Manager, Melissa Rodriguez and Cynthia Beaty for Customer Service, and Linda Daniels as an Operations assistant. Human Resources also added Emily Servin as an HR Associate.

With the continuous growth of omnichannel commerce, including direct store and home shipments, as well as the complexity of global sourcing, returns and exchanges challenges are mounting. And a well-crafted returns management system has a direct impact on a company’s cost of doing business and customer loyalty.

That’s why FarEye has introduced an online returns management solution to simplify the returns experience for customers by removing friction from returns and exchanges and creating new revenue opportunities for retailers. FarEye’s online returns management solution gives brands a customized returns strategy to streamline return and exchange requests, inventory, logistics, and processing and connect every point in the return cycle. The solution offers in-depth functionality for picking up, receiving, inspecting, and processing returns and exchanges. Furthermore, FarEye is uniquely able to layer those return flows on top of your existing “forward” delivery network driving speed, and efficiency while driving return costs down.

“Seventy-eight percent of consumers consider the quality of returns service when choosing where to shop. This goes to show that today’s consumer expects the returns process to be just as consistent as the delivery experience and both must be seamless in order to retain loyalty and repeat purchases,” says Suvrat Joshi, chief product officer, FarEye. “Our online returns management capability gives retailers the ability to offer its end customers an efficient returns and exchanges process that also directly impacts a retailer’s margins, from sales to revenue to customer retention.”

Bernhardt has appointed Cory Martin as Upholstery Designer for the residential upholstery division. In his new position, Martin will work with the Bernhardt team to create new upholstery designs for the company’s popular seating programs.

Martin was most recently in Nicaragua for 10 years as the founder of Maderas Artisans Missions Collective where he taught apprentices in difficult living situations how to design and create furniture. He will continue to work with that vocational school and its staff to keep the program running and supporting its students. A graduate of the Kendall College of Art and Design, Martin has also worked with Verellen, Otto & Moore, Henredon, and Hickory Chair.

A jury in New York federal court has awarded Lexington Home Brands nearly $2.6 million in a trademark suit against lifestyle brand Lexington Clothing Co. over the name “Lexington.” 

While the jury awarded the clothing company just $1 in nominal damages on a contract breach claim, it awarded Lexington $1,641,963 on its trademark claims and $925,000 on a state common law unfair competition claim, according to the verdict.

Lexington Home Brands tried to cancel the Lexington Clothing Co. marks at the U.S. Patent and Trademark Office, and the office ruled in favor of Lexington Home Brands, according to the latest version of the complaint in the case.

Following Corsicana’s voluntary Chapter 11 filing on Saturday, the U.S. Bankruptcy Court for the Northern District of Texas has granted all first-day motions filed by Corsicana Mattress Company and certain of its affiliates that provide up to $58 million through two debtor-in-possession (DIP) financing facilities to support ongoing operations. 

The motions granted also included authorization to cover payroll, benefits and expenses for the company’s full and part-time employees; continue to use existing bank accounts; maintain the company’s insurance programs; pay outstanding taxes; ensure no disruption from utility providers and continue customer programs. The Court’s approval of these motions enables the company to continue to service customers, provide for its employees, and pay vendors and suppliers for services provided and goods received during the Chapter 11 process.  

The DIP Facilities provide Corsicana with up to $18 million in term loans from Blue Torch Finance LLC, which is seeking to acquire the Company through the Chapter 11 process, and up to $40 million in revolving loans from Wingspire Capital LLC.

Magniflex is adding new components to its popular MagniStretch collection that incorporates innovative technology: a special foam layer with inclined sections that utilizes body weight to stretch and decompress the spinal column. 

The MagniStretch collection, which was patented and developed in collaboration with the orthopedic specialists at the University of Zaragoza in Spain, features two updated models: MagniStretch 12 (medium) and MagniStretch Plus (medium-soft). The models feature Elioform and Eliosoft layers and Memoform padding that offer ideal spinal support, with a cover that combines natural Viscose and Outlast fabric to regulate temperature and release excess heat. 

The updated collection will debut at Magniflex’s Las Vegas showroom in building C, suite 1532 of the World Market Center, where the company will also be hosting daily happy hours from 4-6 p.m.

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