News, Updates, & Press Releases

Keep up-to-date on the latest happenings in the woodworking industry. Woodworking Network provides news & updates for the professional woodworking and closets & organized storage industries in North America.

 

Woodworking Industry News

Tague Lumber shatters Guinness World Record attempt

PHILADELPHIA — Near the end of April, a Pennsylvania lumber company shattered the Guinness World Record for having the most people simultaneously knocking on wood. According to the Guinness World Record website, the previous record-breaker was 295 people and was achieved by DZI Insurance Company, in Sofia, Bulgaria, on 13th August 2021.

Cabinets

1847 executes Letter of Intent to sell 1847 Cabinets Inc. for $27.6 million

NEW YORK — 1847 Holdings LLC, a holding company, announced the execution of a non-binding Letter of Intent with a prospective strategic buyer to sell all assets of 1847 Cabinets Inc.Under the terms of the LOI, the buyer has proposed an enterprise value of $27.6 million for the acquisition of all assets of 1847 Cabinets Inc. The amount, the company said in a statement, represents a 5.91x multiple of 2023 EBITDA of approximately $4.7 million.