Culp Restructures with Quebec Plant Sale, Focuses on U.S. Growth
Culp Inc., a leading textile manufacturer headquartered in High Point, North Carolina, has announced the sale of its mattress fabric facility in Quebec, Canada for CA$8.6 million (US$6.2 million). The move is part of a broader restructuring strategy aimed at streamlining operations and concentrating on higher-performing markets.
Driven by reduced demand in the region and infrastructure challenges, the sale supports Culp’s efforts to lower operating costs such as insurance and facility maintenance. According to President and CEO Iv Culp, the decision marks a significant milestone in the company’s year-long transformation and positions it for improved financial performance in the coming fiscal year.
The company has now consolidated its Canadian operations into its U.S. platform, enhancing its ability to serve customers with improved agility. By leveraging a more flexible and cost-effective global supply chain—spanning Vietnam, Turkey, and China—Culp aims to deliver timely, competitive textile solutions in a rapidly evolving market.