Exhibit 4.20


          THIS AMENDMENT TO TERM LOAN AGREEMENT, made this 25th day of July 1994
by  and  between  PULASKI   FURNITURE   CORPORATION   (hereinafter   called  the
"Borrower");  and WACHOVIA BANK OF NORTH CAROLINA,  N.A. (hereinafter called the
"Bank");

                                  WITNESSETH:

          WHEREAS,  the Borrower and the Bank entered into a Term Loan Agreement
dated  the 10th  day of  December,  1993  (hereinafter  called  the  "Term  Loan
Agreement"); and

          WHEREAS,  the  Borrower  and the Bank now  mutually  desire  to affect
certain amendments to the Term Loan Agreement:

          NOW,  THEREFORE,  in  consideration  of the  premises  and the  mutual
covenants herein and in the Term Loan Agreement contained,  the parties agree as
follows:

          1. Paragraph 2 of the Term Loan Agreement  which  paragraph  begins on
page one thereof, is hereby amended and restated to read as follows:

          The  Borrower  has  requested  the  Bank  to  make a term  loan to the
          Borrower in the principal amount of up to $13,000,000.00  and the Bank
          is  willing  to  extend  such term  loans on the terms and  conditions
          herein after set forth.

          2. Section 2.01 of the Term Loan Agreement,  which paragraph begins on
page 13 thereof, is hereby amended and restated to read as follows:

          SECTION  2.01.  Agreement to Lend.  The Bank agrees,  on the terms and
          conditions  set forth  herein,  to make from time to time  during  the
          Drawdown Period Advances (collectively, the "Loan") to the Borrower up
          to but not  exceeding  the  agreement  principal  amount  of  Thirteen
          Million and No/100 Dollars  ($13,000,000.00) (the "Commitment").  Each
          advance shall be in an aggregate  principal  amount of  $500,000.00 or
          any larger multiple of $100,000.00  (except that any advance may be in
          the aggregate amount of the Unused Commitment). No more than three (3)
          Advances may be requested  by the Borrower  during an Interest  Period
          when the Loan is a Eurodollar Loan. The Advances shall be evidenced by
          a note of the  Borrower  in the  principal  amount  equal to  Thirteen
          Million and No/100 Dollars  ($13,000,000.00)  to the order of the Bank
          (the  "Note").  The Note shall be  substantially  in the form  annexed
          hereto as  Exhibit  "A" dated the  Closing  Date.  The loan shall bear
          interest  and  shall  be  repaid  as set  forth  in the  Note and this
          Agreement.

          3. Except as herein amended, the terms and provisions of the Term Loan
Agreement shall be and remain in full force in effect.

          IN WITNESSETH  WHEREOF,  the parties hereto have caused this amendment
to Term  Loan  Agreement  to be  executed  as of the  year and day  first  above
written.

ATTEST:                                    BORROWER:

                                           PULASKI FURNITURE CORPORATION

By: /s/ James Gibbs                        By:    /s/John G. Wampler
        James Gibbs                                  John G. Wampler
        Treasurer                                    President


                                           BANK:
                                           WACHOVIA BANK OF NORTH CAROLINA, N.A.


                                           By:     /s/John J. Carlin
                                                      John J. Carlin
                                                      AVP