Item 8.01. Other Events.

On October 16, 2008, the Registrant issued a press release announcing that its Board of Directors had declared a quarterly dividend of $0.10 per share payable on December 1, 2008 to shareholders of record on November 17, 2008. It also announced that its Board of Directors had decided to suspend making any decision with respect to the $0.50 per share second special dividend that it previously said it intended to make during 2008. A copy of the news release announcing this information is attached to this report as Exhibit 99.

Item 9.01 Financial Statements and Exhibits

Exhibit 99 News release issued by Bassett Furniture Industries, Inc. on October 16, 2008.

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