Easter Leaves High Point Showplace Post
By Larry Thomas, Furniture Today Staff -- Gifts and Dec, 11/12/2009 8:58:00 AM
High Point — Joanna Easter, longtime COO of Showplace and four other High Point showroom buildings, left the company. Her departure comes about three months after the properties were placed into receivership when majority owner Walton Street Capital defaulted on an $81 million note.
Richie Faulkenberry, senior vice president of Lincoln Harris LLC, the court-appointed receiver, said Easter's duties would be assumed by David Oddo, a Lincoln Harris senior vice president who joined the Showplace management team in August.
"She has helped us tremendously during this transition," Faulkenberry said of Easter.
Easter was one of the original owners of Showplace, but sold her stake in the fall of 2005 when Walton Street teamed with three local investors to buy the building and four other downtown properties.
The investors, High Point residents Maurice Hull and Coy Williard Jr. and Charlotte resident Paul Bell, have a tentative agreement to buy Walton Street's stake, but the transaction has to be approved by the note-holder before it can be closed.
Showplace owner Capstone Showplace Management is the third-largest showroom operator in High Point, following the International Home Furnishings Center and Merchandise Mart Properties holdings.
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