Vaughan Furniture Company Inc.

Vaughan Furniture Co., a major domestic manufacturer that struggled against lower-cost Chinese imports, hoisted a white flag recently, announcing that it would close its last U.S. plant. The company, based in Galax, Va., and founded in 1923, said it is eliminating 275 jobs as it completes its transition from a manufacturer into a marketer and importer. The job cuts will begin soon, and will affect plant and corporate employees. When the plant is closed, Vaughan will be a shell of its former manufacturing might. It will maintain its headquarters and a distribution center in Galax. But it will have just 35 employees after cutting about 1,233 jobs and closing five plants since February 2003.