December 15, 2025

In this issue:   This week’s MMQB is anchored by the closing of the Steelcase–HNI deal, a rare, industry-shaping merger that effectively ends meaningful M&A at the top of the contract furniture market and shifts the center of gravity to Muscatine, Iowa. We track the ripple effects of tariffs and rising costs on construction activity, project abandonments, and manufacturers’ margins, alongside earnings updates from Virco and a refinancing move by DIRTT. Office occupancy rebounds sharply after Thanksgiving even as leasing remains selective, while employee fatigue, layoffs, and AI anxiety continue to shape workplace culture. Rounding out the issue are new product launches, design trends, sustainability stories, and vintage perspective.