BASSETT FURNITURE INDUSTRIES INC

General Bassett is a leading retailer, manufacturer, and marketer of branded home furnishings, founded in 1902 and incorporated in Virginia in 1930. Approximately 60% of its wholesale sales come from a network of 86 Company-owned and licensee-owned Bassett Home Furnishings ("BHF") stores. These stores offer stylish, quality furniture and accessories, custom furniture design and manufacturing, free in-home or virtual design visits, and coordinated decorating accessories. Salespeople, referred to as "Design Consultants," provide comprehensive home decor solutions, with in-home or virtual design services requiring completion of a rigorous training and design certification program. Bassett also operates a traditional wholesale business with over 1,000 open market accounts. Most open market sales occur through Bassett Design Centers and Bassett Custom Studios, which are store-within-a-store concepts featuring the Company's custom furniture. The wholesale business, including the Lane Venture outdoor brand, also serves general furniture stores and interior design firms through a network of over 30 independent sales representatives with stated geographical territories, compensated based on a standard commission rate. The company's website serves as a primary point of engagement for customers to research products and make online purchases or connect with in-store design consultants.