University Loft adding jobs as it recovers from credit crunch, probe | Indianapolis Business Journal

See the full article here on Indianapolis Business Journal’s website

Nearly two years after federal agents raided furniture maker University Loft Co.’s Hancock County plant, the once-fast-growing firm is seeing business bounce back.

University Loft reported $75 million in annual revenue last year and more than tripled its military business, winning federal contracts worth over $21 million.

Now, founder James Jannetides has plans to expand his 210-employee work force by about half.

Still, the road to recovery has been rocky.

“Every day I think I’m going to lose my business,” said Jannetides, 46, who started making dorm furniture in his parents’ basement as a college student and over the next decade built the company into a multimillion-dollar enterprise….MORE