Shermag will close 2 plants

Knell, Michael J.
February 2007
Furniture/Today;2/19/2007, Vol. 31 Issue 24, p1
Trade Publication
The article reports on the decision of manufacturer and importer Shermag Inc. to close two of its factories as it shifts more production to Asia while struggling with a soft retail marketplace. According to the company, the net revenue in its fiscal third quarter ended December 29, 2006 fell 17.4% from the same period a year earlier to C$38.4 million. Its net loss widened from C$4.3 million to C$7.7 million.


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