Update: Bush comments on possible sale, closure of subsidiary
Dennis Roberts of furniture group Bush Industries returned my call today to comment on the news that Bush will sell or close local subsidiary Color Works by the end of the year.
Roberts said N.Y.-based Bush has been worried by financial slippage at Color Works, a company that decorates and details products including cell phones. "We don't know much about the market, so we don't know if it's a market downturn," Roberts said.
"The company is losing money, and what it is, it's a very small part of our business," that's taking up a significant amount of time and management effort, Roberts said.
He's optimistic about negotiations to sell the company, but Bush isn't ready to talk about a buyer.