After closing its operations in August, North Carolina-based Mitchell Gold + Bob Williams (MG + BW) was bought by fellow furnishing company Surya. Products are expected to start shipping out by the first quarter of 2024, according to those familiar with the acquisition.
Mitchell Gold + Bob Williams made national headlines when over 500 employees lost their jobs after the business’s closure. CNN reported the closure of MG + BW indicated a “another sign of consumers’ pause in discretionary spending,” as stores such as Home Depot and Target experienced drops in sales in recent months.
According to Surya President Satya Tiwari, MG + BW will be going back to its “roots and building on its core tenets of craftsmanship, customization, and a design-forward approach.”
“We are dedicated to restoring MG+BW to its former glory and beyond, and we look forward to redefining the standards of excellence in the home furnishings industry,” Tiwari explained. “Our acquisition of the MG+BW brand reiterates our ongoing commitment to serve the design community as a complete resource for home furnishings.”
According to a press release sent by Surya, the company plans to restart manufacturing and assembly operations at the MG+BW facilities in Taylorsville, North Carolina. Surya officials say this is a commitment to not only ensure jobs return to the local area, but also underscores Surya’s ability to contribute to the economic growth of the area.
Mitchell Gold, one of the co-founders of MG+BW, will serve as an advisor to Surya’s leadership team as they navigate a path forward for the furniture companies.
“I am excited that Surya has emerged as the next steward of the MG+BW brand, possessing a profound appreciation for our heritage and a resolute commitment to propel the brand forward,” Gold said. “After navigating through unsettling times, I now see a promising next chapter for the brand we built over 30 years. Surya’s deep understanding of the market, alignment with our design philosophy, and proven track record to drive future success creates a winning formula.
“I am enthusiastic about supporting them in any way I can.”
When the company closed, it employed over 533 workers who lost their jobs at the three facilities operated in both Iredell and Alexander counties. While it remains uncertain how many people will be re-hired at Mitchell Gold + Bob Williams, there is an excitement about the development from Surya, Gold and Alexander County.
“The really good thing is the ownership and leadership of Surya really care about this business and they want to restore it to the kind of business it used to be in the community,” Gold said in an interview with The Hickory Record.
Alexander County Manager Shane Fox replied enthusiastically to the announcement from MG + BW in a released statement. “We look forward to the company’s revival and the jobs that are to be restored in our county [and] we appreciate Surya’s investment in MG+BW, as well as everyone’s efforts in making this significant transaction a reality.”