BASSETT FURNITURE INDUSTRIES, INCORPORATED (NASDAQ:BSET) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02(b) Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 4, 2019, George W. Henderson, III, notified Bassett Furniture Industries, Incorporated (the “Company”) of his resignation from the Board of Directors of the Company (the “Board”), effective September 5, 2019. Mr. Henderson indicated to the Company that his decision to resign was based solely on personal health reasons, and not due to any disagreement with the Company or concerns relating to the Company’s operations, policies, or practices. Mr. Henderson served on the Audit Committee of the Board. The Board appointed director John R. Belk to the Audit Committee of the Board effective September 5, 2019, and also determined that Mr. Belk meets the current independence and experience requirements contained in the listing standards of NASDAQ and is an audit committee financial expert as defined in Securities and Exchange Commission regulations.
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers. Its retail segment consists of Company-owned stores. It operates its logistical services segment through its subsidiary, Zenith Freight Lines, LLC, which provides shipping, delivery and warehousing services. Its portfolio of products includes Canopy Bed, Nightstands, Baby Bedding, Bedside Tables, Chaise Lounge, Writing Desks, Kitchen Furniture, Computer Hutch, Game Tables and Fabric Ottomans. Its range of furniture products and accessories are sold through a nation-wide network of over 90 retail stores known as Bassett Home Furnishings.