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On September 6, 2007, La-Z-Boy announced the sale of Pennsylvania House to Universal Furniture. Later that month came the sale of Clayton Marcus to Sun Capital affiliate Lexington-Rowe, leaving only American Drew and Lea among the LADD divisions. Also sold was the Sam Moore division, in February 2007 to Hooker Furniture.
A recliner Recliner aboard a business jet. A recliner is an armchair or sofa that reclines when the occupant lowers the chair's back and raises its front. [1] [2] It has a backrest that can be tilted back, and often a footrest that may be extended by means of a lever on the side of the chair, or may extend automatically when the back is reclined.
The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price.
In 1969, aged 22, Graham Kirkham was married with two children, which he describes as great motivation. [4]Having visited a few manufacturers in his daily work, he decided that making furniture was relatively easy and that by cutting out the warehouse dealers in the middle of the supply chain, he could sell direct to the public at lower prices.
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