Ticking supplier Culp Inc. has reached agreements with a number of customers and fabric suppliers regarding its copyrighted upholstery designs. Terms of the agreements were not released. On Jan. 20, the High Point, N.C.–based company also announced it was engaged in enforcement proceedings against three fabric suppliers: Global Textile Alliance, Gum Tree Fabrics and Huntington Fabrics. Culp is pursuing agreements with several customers to ensure that it will be the exclusive provider of its copyrighted designs in the future. “Unfortunately, there are certain customers, importers and retailers who continue to use unauthorized versions of Culp’s copyrighted designs in their furniture products,” the company said.
In other news, the New York Stock Exchange has notified the upholstery and mattress fabric supplier that it is in compliance with the exchange’s quantitative continued listing standards. Culp received a letter of noncompliance in December 2008 because it had fallen below both the minimum shareholders’ equity and market capitalization requirements for listing.
