A chair for offices and the like includes at least one armrest that can be folded from a generally upright position to a folded position and visa-versa. The folding mechanism has a thin profile, thereby minimizing the thickness of the armrest and providing an aesthetically pleasing appearance. A cover for the armrest includes an elastic material that stretches to accommodate folding, and also contracts to reduce or eliminate wrinkles. The folding mechanism may bias the armrest to the folded position to overcome forces generated by stretching of the cover when the armrest is folded.