Yes. Both sofa and chair are neutrals.

They will be fine. Use pillows and throw blankets to tie the pieces of furniture together.

It will work but maybe a more interesting chair, not so similar in shape and scale these are so close almost matching.

Still wanting comfort this tufted back style would be a bit more interesting-
http://www.hbf.com/Products/Item125/Chill-III-Lounge-Seating.aspx

or a different in scale more legs too-
http://www.hbf.com/Products/Item18/Brentwood-Lounge-Seating.aspx

The sofa is almost generic and I don't mean that in a bad way its just the lounge chair could or should have a bit more interest.

Post back on what you selected, good luck.

I dunno. The colors are fine together, but aren't the chair and sofa too similar in shape? It might be more interesting to do like a tufted sofa, or a camel back, or something that didn't seem like it was from the same line of furniture.

My feeling on furniture is that it should be either matching or an interesting pairing of 2 complimentary pieces.

I think these 2 are too similar to make an interesting pairing.
What about a tufted club chair?

If you are going for comfort in the reading area, that should be your first priority, otherwise you will not want to use the space. Do you have room for a matching ottoman?

Cross-pollinate the colours between the two - add dark brown pillows to the cream sofa and a cream and red throw to the dark brown chair.

Just make sure to actually sit on both chairs before buying!

Happy shopping...

Will only work if you pull together with pillows & accessories, otherwise the chair is too dark and too chunky in and of itself to complement the sofa.

I don't like these two pieces together. It feels like you're trying to match them. I'd opt for a side chair that has a contrasting look. By pairing contrasting elements, you effectively showcase each one.

example with MCM designs (though you could contrast with any style)

http://www.roomandboard.com/rnb/product/detail.do?productGroup=19088&catalog=filter&menuCatalog=room&menuSubcategory=201206

http://www.roomandboard.com/rnb/product/detail.do?productGroup=19647&catalog=filter&menuCatalog=room&menuSubcategory=201206

http://www.roomandboard.com/rnb/product/detail.do?productGroup=20062&catalog=filter&menuCatalog=room&menuSubcategory=201206

All three are classic timeless pieces, but two chairs are too similar to each other. Ideally, I would pair the sofa with a tufted leather chair. I love the persian carpet and tufted leather furniture's "lux library" look.

If getting a different club chair isn't a possibility, maybe you want to find a similr sofa without a skirt to make things a bit more interesting?

It's fine as it is, but if you varied the styles a bit, it would be better.

For a more blended look, I would try a sofa without a skirt.
I like the club chair. I would give it its own corner, creating a reading space, with book shelves and contemporary lighting.