Bassett Appoints Ernst & Young as Auditor.Business Editors BASSETT, Va.--(BUSINESS WIRE)--May 14, 2002 Bassett Furniture Bassett Furniture is a furniture manufacturer located in Virginia, USA. Bassett Furniture is one of the oldest furniture manufacturers in Virginia and has been producing hand crafted furniture for over 100 years. Industries Inc. announced that its Board of Directors has appointed Ernst & Young LLP LLP - Lower Layer Protocol (E&Y) to replace Arthur Andersen For the U.S. Supreme Court case commonly known as Arthur Andersen, see . Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms (the other four are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG), performing LLP as the independent auditors for the company's fiscal year ended November 30, 2002. "We look forward to beginning our audit relationship with Ernst & Young," said Robert H. Spilman Jr., Bassett's president and chief executive officer. "E&Y is the predominant firm servicing public companies in this region bringing an international presence as well as broad experience with manufacturers and furniture retailers." The appointment of Ernst & Young was made after careful consideration by Bassett's Board of Directors, its Audit Committee and management of the company, and concludes a thorough evaluation process. The decision to change auditors was not the result of any disagreement between the company and Arthur Andersen on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. During its five-year tenure as the company's outside auditors, Arthur Andersen, through its Greensboro, N.C. office, has provided the highest level of quality service and professionalism. Founded in 1902, Bassett Furniture Industries, Inc. manufactures and markets branded home furnishings. Bassett's products, designed to provide quality, style and value, are sold through Bassett Furniture Direct(R) stores, At Home with Bassett(R), Five Star and other furniture and department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. . The Company's common stock is traded on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on market under the symbol BSET BSET Bachelor of Science in Engineering Technology BSET Building Systems Engineering Technology BSET Berhampur School of Engineering and Technology . More information about Bassett is available at www.bassettfurniture.com. |
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