Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, April 5, 1991                   TAG: 9104050232
SECTION: BUSINESS                    PAGE: A-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

BASSETT FURNITURE'S SALES FALL 15 PERCENT

Sales for the quarter ending Feb. 28 were $89.3 million, down from $105.5 million a year ago. Net income was $2 million, compared with a loss of $6.7 million, blamed on restructuring during a plant closing a year ago.

Bassett's plants have been operating on greatly reduced schedules during the furniture-industry slump, and the size of the work force "has been severely curtailed where necessary," said Robert H. Spilman, chairman. Four major customers filed for bankruptcy in the quarter, he said in a report to stockholders, and the "credit worthiness" of customers has been a major problem. But a rebound of housing starts in February could be an early indication of a recovery in the furniture industry, he said. - Staff report