BIFMA Updates Standard for Office Storage Units – BIFMA X5.9

On February 7, 2019, the Business Institutional Furniture Manufacturers Association (BIFMA) released a new version of its storage unit standard – BIFMA X5.9. The updated version replaces the previous 2012 version and is approved by the American National Standards Institute (ANSI).

BIFMA X5.9 provides a common basis for evaluating the safety, durability and structural performance of storage units used in offices. It defines specific tests, laboratory equipment, conditions of test, and recommends minimum levels to be used in testing. It also defines how performance, durability, and structural adequacy should be evaluated.

Read full article here: (Virtual-Strategy Magazine) http://virtual-strategy.com/2019/03/12/bifma-updates-standard-for-office-storage-units-bifma-x5-9/

Read Alan Hardy’s statement in full as he discusses sale of Paragon Interiors

Notts County owner Alan Hardy says a “substantial offer” has been made to buy his ailing fit-out firm Paragon Interiors.

The businessman, who also owns Nottinghamshire Golf and Country Club, told the Press Association the firm had been sold for “diddly squat” but has now backtracked on those comments.

In an official statement to Nottinghamshire Live he said there has been interest in the firm and that the party involved has big plans for the company, which is currently in administration.

Read full article here: (NottighamshireLive) https://www.nottinghampost.com/news/business/read-alan-hardys-statement-full-2620678

Brunner and Haworth announce international sales partnership

Brunner and Haworth will join forces to acquire customers in EMEA and
Asia Pacific. Brunner will complement Haworth’s product range to meet the
growing demand for comprehensive furnishing concepts for modern office
environments.

Read more

5 office fit-out firms to pay £7 million fine for breaking competition law

Five companies – Fourfront, Loop, Coriolis, ThirdWay and Oakley – have agreed to pay fines totalling over £7 million after admitting being involved in cartel behaviour.

Following a Competition and Markets Authority (CMA) investigation, each company has admitted to breaking competition law at least once during the period of 2006-2017, in some cases on multiple occasions.

Read full article here: (GOV.UK) https://www.gov.uk/government/news/5-office-fit-out-firms-to-pay-7-million-fine-for-breaking-competition-law

Paragon Interiors enters administration – Hardy ‘working towards a solution’

Paragon Interiors has entered administration leaving over 90 jobs under threat at the firm.

Leonard Curtis has been appointed administrator at the firm. In a statement last night (27 February), the firm said: “The joint administrators are seeking offers for the business in order to preserve jobs and maximise the return to creditors.  It is understood that the company employs in excess of 90 people.”

Read full article here: (THE BUSINESSDESK.COM) http://www.thebusinessdesk.com/eastmidlands/news/2023270-paragon-interiors-enters-administration-reports

 

HNI Corporation Reports Earnings for Fourth Quarter and Fiscal Year 2018

HNI Corporation (NYSE: HNI) today announced sales for the full year ended December 29, 2018 of $2,258 million and net income of $93 million. GAAP net income per diluted share was $2.11 compared to $2.00 in the prior year. Non-GAAP net income per diluted share was $2.41 compared to $1.97 in the prior year.

Read full article here: (BUSINESS WIRE) https://www.businesswire.com/news/home/20190225006032/en/HNI-Corporation-Reports-Earnings-Fourth-Quarter-Fiscal

Steelcase’s $450 Million Senior Notes Offering

Davis Polk advised the joint book-running managers and representatives of the several underwriters in connection with an SEC-registered offering by Steelcase Inc. of $450 million principal amount of 5.125% senior notes due 2029.

Read full article here: (GLOBAL LEGAL CHRONICLE) http://www.globallegalchronicle.com/steelcases-450-million-senior-notes-offering/

Herman Miller Appoints Three Visionary Leaders To Support Acceleration Of Global Growth And Innovation

Herman Miller, Inc. (Nasdaq: MLHR), a leading global designer and furniture manufacturer, announced today that President and CEO Andi Owen has bolstered her leadership team with three new executive hires. Megan Lyon as Chief Strategy Officer, Leander LeSure as Chief Human Resources Officer, and Jacqueline Rice as General Counsel will partner with Owen and her broader leadership team to identify and drive global growth opportunities for the Company and its family of brands.

Read full article here: (PR Newswire) https://www.prnewswire.com/news-releases/herman-miller-appoints-three-visionary-leaders-to-support-acceleration-of-global-growth-and-innovation-300794821.html