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Bassett Furniture Reports 'Unauthorized Occurrences' on Some IT Systems; Shares Fall After Hours
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Bassett Furniture Reports 'Unauthorized Occurrences' on Some IT Systems; Shares Fall After Hours
Jul 15, 2024 2:57 PM

05:41 PM EDT, 07/15/2024 (MT Newswires) -- Bassett Furniture Industries ( BSET ) said Monday it detected "unauthorized occurrences" on part of its information technology systems on Wednesday, prompting a shutdown of manufacturing.

"The threat actor disrupted the company's business operations by encrypting some data files," according to a filing with the US Securities and Exchange Commission. "As a result of the company's containment measures, which included shutting down some systems," the company has not been operating its manufacturing facilities, the filing said.

Bassett said its retail stores and e-commerce platform are open, while customers can place orders and buy available merchandise.

"The incident has had and is reasonably likely to continue to have a material impact on the company's business operations until recovery efforts are completed," according to the filing.

"The company does not believe personal information from consumers was compromised," the filing said.

Bassett shares fell 7.1% in recent after-hour trading.

Price: 13.00, Change: -0.99, Percent Change: -7.08

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