Auto Services Company, Inc., ASC Holding Company, Inc., and Bradley L. Hasselwander filed Amendment No. 4 to Schedule 13D with the SEC on November 2, 2026, disclosing the October 29, 2026 closing of a privately negotiated repurchase of 300,000 shares of Bassett Furniture Industries common stock.

Key Highlights

  • Repurchase closed October 29, 2026: Auto Services Company, Inc. sold 300,000 shares of Bassett Furniture Industries common stock back to the issuer at $22.0473 per share.
  • Aggregate proceeds: The total purchase price paid by the issuer was $6,614,190.00, according to the filing.
  • Remaining stake: Following the repurchase, the reporting persons beneficially own 456,317 shares, representing approximately 5.5% of outstanding common stock.
  • Share base used: The ownership percentage is calculated on 8,651,361 shares outstanding as of September 24, 2026, less the 300,000 repurchased shares.
  • Shared voting and dispositive power: All 456,317 remaining shares are held with shared voting and dispositive power; none of the three reporting persons holds sole voting or sole dispositive power.
  • Investment intent stated: The filing states the reporting persons hold remaining shares "for investment purposes" and may acquire or dispose of additional shares depending on market conditions and other factors.

Auto Services Company Closes Block Sale to Bassett Furniture at $22.0473 Per Share

According to the filing, the repurchase transaction closed on October 29, 2026, with Auto Services Company, Inc. (ASC) selling 300,000 shares of Bassett Furniture Industries, Incorporated common stock (par value $5.00 per share) directly to the issuer. The transaction was described as "a privately negotiated transaction," with ASC receiving an aggregate purchase price of $6,614,190.00 at a per-share price of $22.0473. The filing identifies this as Amendment No. 4 to a Schedule 13D originally filed on May 6, 2024, and previously amended on June 18, 2024, June 28, 2024, and October 28, 2026.

Three reporting persons are identified in the filing: ASC, an Arkansas corporation; ASC Holding Company, Inc., the parent holding company of ASC, also an Arkansas corporation; and Bradley L. Hasselwander, described as the controlling stockholder of ASC Holding. After the closing, each reporting person is listed as beneficially owning 456,317 shares, with all voting and dispositive power held on a shared basis and none held solely. The filing calculates the approximately 5.5% ownership figure by applying the 300,000 repurchased shares as a reduction to the 8,651,361 shares reported as outstanding in Bassett Furniture's Form 10-Q for the quarter ended August 29, 2026, filed September 30, 2026.

Regarding future intentions, the filing states that the reporting persons "intend to review their investment in the Issuer on a continuing basis" and, depending on various factors including market conditions and the issuer's business and prospects, "may acquire additional shares of Common Stock or dispose of some or all of the shares of Common Stock beneficially owned by them." The filing also states that, except as set forth in the amendment, none of the reporting persons currently has any plans or proposals relating to the matters described in clauses (a) through (j) of Item 4 of Schedule 13D.

What Was Disclosed

Amendment No. 4 to Schedule 13D discloses the October 29, 2026 closing of a repurchase in which Auto Services Company, Inc. sold 300,000 Bassett Furniture shares to the issuer for $6,614,190.00, leaving the three reporting persons with a combined beneficial ownership of 456,317 shares, or approximately 5.5% of outstanding common stock.