BASSETT FURNITURE INDUSTRIES INC
For the period ended Nov 29, 2025. Filed Feb 5, 2026.
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FY2025 · Filed Feb 5, 2026
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Item 16. FORM 10-K SUMMARY
None.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BASSETT FURNITURE INDUSTRIES, INCORPORATED (Registrant)
| By: | /s/ Robert H. Spilman, Jr. | Date: February 5, 2026 |
|---|---|---|
| Robert H. Spilman, Jr. President and Chief Executive Officer (Principal Executive Officer) Director, Chairman of the Board of Directors |
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By: | /s/ Emma S. Battle | Date: February 5, 2026 |
|---|---|---|
| Emma S. Battle Director | ||
| By: | /s/ John R. Belk | Date: February 5, 2026 |
| John R. Belk Director | ||
| By: | /s/ Kristina K. Cashman | Date: February 5, 2026 |
| Kristina K. Cashman Director | ||
| By: | /s/ James E. Goergen | Date: February 5, 2026 |
| James E. Goergen Director | ||
| By: | /s/ Virginia W. Hamlet | Date: February 5, 2026 |
| Virginia W. Hamlet Director | ||
| By: | /s/ J. Walter McDowell | Date: February 5, 2026 |
| J. Walter McDowell Director | ||
| By: | /s/ William C. Wampler, Jr. | Date: February 5, 2026 |
| William C. Wampler, Jr. Director | ||
| By: | /s/ William C. Warden, Jr. | Date: February 5, 2026 |
| William C. Warden, Jr. Director, Lead Independent Director | ||
| By: | /s/ J. Michael Daniel | Date: February 5, 2026 |
| J. Michael Daniel Senior Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) |
Bassett Furniture Industries, Incorporated
Schedule II
Analysis of Valuation and Qualifying Accounts
For the Years Ended November 29, 2025, November 30, 2024 and November 25, 2023
(amounts in thousands)
| Balance Beginning of Period · Additions Charged to Cost and Expenses · Deductions (1) · Other · Balance End of Period | ||||||||
|---|---|---|---|---|---|---|---|---|
| For the Year Ended November 25, 2023: | ||||||||
| Reserve deducted from assets to which it applies | ||||||||
| Allowance for credit losses | $1,261 | $219 | $(945) | $ | - | $535 | ||
| Income tax valuation allowance | $1,339 | $452 | $ | - | $ | - | $1,791 | |
| For the Year Ended November 30, 2024: | ||||||||
| Reserve deducted from assets to which it applies | ||||||||
| Allowance for credit losses | $535 | $624 | $(62) | $ | - | $1,097 | ||
| Income tax valuation allowance | $1,791 | $473 | $ | - | $ | - | $2,264 | |
| For the Year Ended November 29, 2025: | ||||||||
| Reserve deducted from assets to which it applies | ||||||||
| Allowance for credit losses | $1,097 | $(62) | $(606) | $ | - | $429 | ||
| Income tax valuation allowance | $2,264 | $ | - | $ | - | $ | - | $2,264 |
(1) Deductions are for the purpose for which the reserve was created.
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