Burlington Propped by Prudential
$10 Million in Equity Provides Stability
By Staff -- Home Textiles Today, 10/11/2004
Monticello, Ark.— Prudential Capital Partners LLC, the new owners of Burlington Rug Corp., recently invested more than $10 million of equity into the company, making “significant improvements to its financial stability,” said Gary Brookshire, CEO.
Also, the company recently sold its broadloom carpet business to Mattel Industries. As part of the sale, the Monticello Flooring sales and support staffs have been hired by Mattel.
“As we returned our focus to rugs, we have already seen significant improvements in quality control and fill rates in recent weeks,” said Roger Miller, vice president of operations. “We have also made substantial improvements in our production planning software and staffing as part of our commitment to exceed our customer's expectation in deliveries.”
In other company news, Jeff Seagle has returned to Burlington Rug Corp. after a brief stint with Mohawk Home working in its doormat division.
His post, formerly marketing director, has been restructured to vice president of marketing.
