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Stanley Furniture Co Inc. (STLY): Activists Solas Capital Management and Hale Partnership Are Snapping Up

Frederick Tucker Golden’s Solas Capital filed a new 13D with the SEC targeting Stanley Furniture Co Inc (STLY). The company recently announced its intention to buy back shares. Solas Capital purchased 1 million shares at $2.50 per share on February 29th. Hale Partnership Capital Management is another fund that purchased more than 600K shares at the same price on February 29th.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Solas Capital Management 0 2,481,548 0 2,481,548 2,481,548 16.4%
Frederick Tucker Golden 0 2,481,548 0 2,481,548 2,481,548 16.4%

Page 1 of 8 SEC Filing

(Amendment No.)*
Stanley Furniture Company, Inc.
(Name of Issuer)
Common Stock, par value $0.02 per share
(Title of Class of Securities)
(CUSIP Number)
Frederick Tucker Golden
c/o Solas Capital Management, LLC
1063 Post Road, 2nd Floor
Darien, CT  06820
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
February 29, 2016
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [X].
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.
*   The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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