05:59 PM EST, 12/01/2025 (MT Newswires) -- Hooker Furnishings ( HOFT ) said late Monday it agreed to sell its Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen Home Furnishings.

The purchase price will be determined based on net book value at closing, currently estimated at about $4.8 million. Magnussen will also assume Home Meridian's High Point showroom lease, shedding approximately $4.8 million in related liabilities. Hooker will retain the Samuel Lawrence Hospitality brand.

The company expects $5 million to $6 million in non-cash impairment charges tied to the transaction.

Closing is targeted for mid-December, according to the company.