Bassett Furniture Industries, Incorporated (Bassett) is a vertically integrated manufacturer, importer and retailer of home furnishings. Bassett operates in three segments: wholesale, retail and investments/real estate. The Company's products are sold primarily through a network of licensee- and Company-owned branded stores under the Bassett Home Furnishings (BHF) name, with additional distribution through other wholesale channels including multi-line furniture stores, many of, which feature Bassett galleries or design centers. On December 26, 2011, it opened a Company-owned store in Torrance, California bringing the total network to 89 stores. During the fiscal year ended November 26, 2011 (fiscal 2011), Bassett acquired 100% interests in nine retail stores operated by four licensees in Nevada, Virginia, Ohio, Kentucky and Connecticut, and it closed seven Company-owned stores. On May 2, 2011, Bassett sold its 46.9% interest in International Home Furnishings Center, Inc.