Czech mate to Falcon

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Bankrupt Falcon Products plans to close its 700,000 sq ft chair-frame factory in the Czech Republic as part of its strategy to reduce manufacturing capacity and increase outsourcing.

 

Falcon has said its debt restructuring plan could return the company to profitability within two years. The company also plans to move the production of metal chairs from Morristown, Tennessee to Shenzhen, China.

 

Falcon expects to post a loss of $68.5 million for the fiscal year ending 29 October.