Shelby Williams Industries Inc. said it will post a fourth-quarter loss after taking a restructuring charge of $3.9 million, or 43 cents a share, for closing a plant and writing down other assets.
Manfred Steinfeld, chairman of the Chicago-based maker of contract seating for the restaurant, hotel, hospital and university markets, said 100 to 125 jobs will be eliminated with the closing of the facility in Canton, Miss.
He described the plant as more than 50 years old and said it had caused problems with the federal Occupational Safety and Health Administration. The company will shift production to other Shelby Williams factories.
The company, which earned $1.45 million, or 16 cents a share, in 1993’s fourth quarter, didn’t estimate the loss for the current quarter but did say it would remain profitable for all of 1994.
