The $$$ keeps coming in at High Point University.
[QUOTE][B]Hooker Furniture donates buildings to HPU
[I]By David Nivens, Enterprise Staff Writer
December 13, 2007[/I][/B]
HIGH POINT – Hooker Furniture Corp. has donated two showroom buildings on King Street to High Point University. The buildings, with an appraised value of $1.35 million, will be sold, HPU President Nido Qubein said Wednesday, to support a $225 million campus upgrade.
Bradington-Young, a Hooker subsidiary specializing in upscale leather upholstery, operated the showrooms.
“High Point University is very grateful that Hooker Furniture has blessed us with such a generous gift,” Qubein said. “We expect to get possession of the buildings by the end of the month. We will not occupy the buildings. They will be marketed.”
Hooker Furniture, based in Martinsville, Va., is one of the nation’s top 10 publicly traded furniture companies. Hooker has been an HPU donor and supporter for years. HPU offers the world’s only major in home furnishings marketing and design through its Knabusch-Shoemaker International School of Home Furnishings Design.
“Hooker has enjoyed a long-term positive relationship with High Point University, and we think it is a great institution,” said E. Larry Ryder, Hooker executive vice president for finance and administration. “The university is certainly providing the kind of professionals we need in our industry, and we want to support them however we can.”
Qubein said the buildings, off W. Market Center Drive, became available after a Hooker consolidation.
“It is important that corporations like this one share our vision also.” Qubein said.
Hooker acquired Cherryville-based Bradington-Young in 2003. Hooker, an 83-year old residential wood, metal and upholstered furniture manufacturer, is ranked among the nation’s top 10 largest publicly traded furniture companies based on 2006 shipments to U.S. retailers.[/QUOTE]