NOONOO RUG CO. TO CEASE
OPERATIONS BY END OF YEAR
SECAUCUS, NJ -- Noonoo Rug Co. will cease operations by the end of 2005, according to Gene Newman, president.
"After we filed for reorganization under the Federal Bankruptcy Code in January, it has always been our intention to continue the company on a smaller scale. Unfortunately, despite our best efforts, we are not able to accomplish that goal," he said.
"We are in the process of contacting other importers who may wish to purchase the inventory of our successful programmed rug collections, with a view to continuing them with our existing and new customers. In the meantime, we are offering existing inventory to our customers at greatly discounted pricing,€VbCrLf Newman said. "New orders continue to be accepted which will be supplied by the company's inventory being held overseas€VbCrLf.
Newman emphasized that all existing special orders will be filled and shipped to customers when they have been completed.
"I and my financial advisors have spent a considerable amount of time discussing and planning for the orderly winding down of our affairs. One of the top priorities is satisfying the best interests of our customers,€VbCrLf Newman emphasized.
Newman concluded by saying "The Noonoo staff and I have enjoyed the relationships with our customers for many years. Not only the business relationships, but the personal relationships as well. We thank you for supporting us over the years.€VbCrLf
Noonoo was founded in 1930 by Edward Noonoo, Gene Newman's father. As a high end boutique wholesaler, Noonoo has specialized in filling the needs of customers whose clientele seek the best in handknotted carpets.
During the early years, the company imported not only Iranian rugs but also resin and skins to be manufactured into handbags and gloves.
In the 1960's, the company began to import goods from Pakistan, India and Taiwan.
For years Noonoo was known for its Pakistan bokhara production, subsequently named Majestic Bokhara.
The company's imports from Taiwan were in one quality of handknotted, 80 line, closed back construction. The product collection was called Tai Ming and was woven in one simple Peking design in a choice of four background colors. Tai Ming was reportedly the first programmed Chinese collection offered in the United States.
Edward Noonoo died in 1975, and Gene Newman took over management and ownership of the company. Newman's previous background was in finance and real estate. He continued the company's imports from Pakistan, Taiwan and Iran.
In the late 1970's with the ban on imports from Iran and the opening of trade with Mainland China, the company turned its attention to Chinese production. Taiwan production had ceased due to rising costs. Noonoo developed a collection from Mainland China called Tansheng. The construction was hand knotted 160 line, a quality that was just being developed at that time.
In the early 1980's the company turned its full attention to Pakistan. With this specialization, Newman said he felt the company could achieve the same success with 16/16 quality programmed rugs from Pakistan as other importers had in India and China.
The informal partnership between Noonoo and the manufacturer resulted in Tiara, the first collection of fully programmed Persian designs from Pakistan.
In the early 1990's the company began production from India and Nepal in various qualities.
Today India accounts for slightly more than one half of Noonoo's imports. The company also remained active in Pakistan, most notably with the extensive Naturale collection of vegetable dyed carpets.
8.12.05