High Point, N.C. -- The clock is ticking for employees at High Point-based company Heritage Home Group.

  • The company recently put out a Warn Act notice to employees at their locations in High Point and Thomasville
  • The notice is put out as a precaution in the event a future buyer chooses not to maintain either or both facilities
  • The permanent layoffs would happen under two circumstances, the company doesn't secure a buyer or the buyer doesn’t offer jobs to the current employees

The company recently put out a Warn Act notice to employees at their locations in High Point and Thomasville.

According to them, the notice is put out as a precaution in the event a future buyer chooses not to maintain either or both facilities.

As the High Point economic development office works to help the group, a statement from the Heritage Home Group’s chief executive officer says, "The Company and its advisers continue to work diligently to identify and negotiate with prospective buyers for our Thomasville & Co. and Broyhill business units."

They say the permanent layoffs would happen under two circumstances: the company doesn't secure a buyer or the buyer doesn’t offer jobs to the current employees.

While the group is negotiating and in the middle of bankruptcy restructuring, economists say it doesn’t define the region as a whole.

President of the High Point Economic Development Corp., Loren Hill, says "We're seeing a impressive growth of economy in the High Point, the Heritage Home Group news is sort of a blip in that screen, it's going the opposite direction but it's not reflective of what's going on in High Point or the Triad overall."

In August, Heritage Home Group secured a $22 million bid for their Thomasville & Co. and Broyhill brands property assets. The deadline for any competing bidders is October 12, followed by an auction on October 18.

Get the latest news, sports and weather delivered straight to your inbox. Click here to sign up for email and text alerts.