Furniture tycoon tried to bring manufacturing back to US but had to close factory after just 10 months thanks to Trump's ever-changing tariff rules

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The furniture company became successful by keeping costs low and aiming at the middle of the market. It tried to adapt to tariffs by opening a US factory, but the factory was too expensive to operate.

Published: 16:18 GMT, 11 November 2026 | Updated: 16:30 GMT, 11 November 2026

The founder of a successful furniture business tried to anticipate President Trump's jarring tariff policies by opening a factory in the US, but he was forced to close it after just 10 months.

Bruce Krinsky and his wife, Chaya Krinsky, founded TOV Furniture in 2013 with the aim of capturing the middle of the market between cheap IKEA furniture and more expensive pieces from places such as Crate & Barrel or Pottery Barn.

The couple built the company into a $100 million per year business by selling sofas in the $900 range. It made the Krinskys wealthy and allowed them to move with their three daughters into a $6 million Miami Beach home in 2020, purchased for $2.5 million at the time, according to realty sites.

The TOV furniture business model relied heavily on cheap and efficient Chinese factories and labor, which became a problem after Trump announced on the 2024 election campaign trail that he wanted to impose hefty tariffs on the country.

Krinsky, who told The Wall Street Journal that he voted for the president three times because he believed Trump was the most business-friendly candidate, adapted and moved a significant portion of manufacturing to Vietnam.

But during the president's second term, Krinsky was blindsided when it was announced that tariffs would also be placed on Vietnam.

In light of the announcement and encouraged by the president's assertion that the tariffs would revitalize domestic manufacturing, Krinsky decided to open a plant in High Point, North Carolina, a once-vibrant hub for the furniture industry that still calls itself the Furniture Capital of the World.

He took the plunge and took over a failing factory in the city. It soon became clear, however, that the math was unsustainable for his business, and Krinsky was forced to shutter the plant and lay off 45 people after just 10 months.

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