About two weeks after receiving a $98,393 state economic grant, Prepac Manufacturing announced Thursday it will close its Guilford County ready-to-assemble furniture factory, eliminating 200 jobs.
“After careful consideration and efforts to find a sustainable path forward for the business and prospects of Prepac Manufacturing, it has made the difficult decision to begin an orderly wind-down of all operations,” the company released in a statement to Business North Carolina.
“Last year, we took the significant step of centralizing our production in North Carolina to better serve our customers and improve our competitive position. However, the broader economic conditions facing North American furniture manufacturing presented substantial challenges for our business. Despite our investments in modernization and the incredible dedication of our team, the cost of domestic production is no longer competitive against the global landscape, including the continued influx of low-cost Chinese imports.”…