Furniture Row Racing announced today that it will cut back to a limited 2009 NASCAR Sprint Cup Series schedule with driver Joe Nemechek and the #78 Chevrolet.
Furniture Row operates as part of the Furniture Row Companies; one the nation's largest furniture retailers. Company President Tom Faulkner said he is reining-in all expenses in response to a plummeting economy and discouraging retail sales projections.
"Running a limited schedule is simply a cautionary measure," said Faulkner. "While we've been faring significantly better than most in our category, it's no secret that our business is tied to the health of the economy - in particular, housing starts and real estate sales."
In only its third year as a Sprint Cup Series team, Furniture Row Racing is about to complete its best season yet, having qualified for 31 out of the 35 races to date. The highlight of their year was a pole position at Talladega.
Furniture Row Racing President Joe Garone said the cutback "has nothing to do with on-track performance," calling it "simply a business decision...of balancing priorities in a tough economy."
While no announcements were made regarding staffing or organizational changes, Garone said, "We've got some tough decisions to make. We all know it will take fewer people and resources to run a limited versus full schedule, but we're also optimistic that our best days are still ahead of us."
More Merger Mania: Published reports today say that a deal may be in the works to team the legendary Wood Brothers with Hall Of Fame Racing.
Hall Of Fame owners Jeffrey Moorad and Tom Garfinkle are not expected to continue their relationship with Joe Gibbs Racing beyond this season, and sources tell Sirius Speedway that serious discussions are underway to forge an alliance with the Wood Brothers and Ford Motor Company.
Moorad told FOXSports.com that the team is assessing all its options for the future, and has “talked to a couple of teams about some interesting merger possibilities.” Moorad said his preference is to have the #96 team continue, but that he is open to other possibilities.