iHome set to buy Strouds for $38 million
February 12, 2001,
CITY OF INDUSTRY, Calif. — If the Bankruptcy Court gives it the nod, Strouds will sell the assets of its business to ihome.com for approximately $38 million. This would include 50 stores, two distribution centers, the corporate headquarters and additional assets including all trade names, trademarks, copyrights and the company website.
The sale agreement is supported by Strouds' unsecured creditors' committee and the boards of directors of both companies,
Paccioretti will continue to serve as president and ceo of Strouds and the existing corporate headquarters and distribution facilities here will remain operational. The sale is scheduled to be completed in March.