Leggett & Platt is implementing a restructuring plan that will see the closure of manufacturing and distribution facilities primarily in its Bedding Products segment and to a lesser extent, in its Furniture, Flooring & Textile Products segment.

The plan calls for the consolidation of manufacturing and distribution and reduce the number of its plants from 50 to 30 to 35 in its bedding products segment, and a small number of production facilities in home furniture and flooring products to "better align capacity with regional demand and drive operating efficiencies." 

In Furniture, Flooring & Textile Products we plan to consolidate a small number of production facilities in Home Furniture and Flooring Products to better align capacity with regional demand and drive operating efficiencies. 

The 141-year-old supplier of bedding components and private label finished goods; home and work furniture components; and products for a diverse range of industries, has seen sales drop due to weak demand. In total, the initiatives are expected to reduce annual sales by approximately $100 million and generate $40 to $50 million in EBIT.

President and CEO Mitch Dolloff said the company is taking these actions to create a more "focused, agile organization with a portfolio of products and operating footprint aligned with the markets we serve."

"In addition," he said, "optimizing our operating footprint in both Bedding Products and Furniture, Flooring & Textile Products will reduce complexity and enhance the efficiency of our business. Looking forward, we expect to advance key product growth, improve profitability, and drive enhanced value for customers and shareholders."