follow us
  • Andrea Lillo

Strouds deal complete in wake of HQ layoffs

CITY OF INDUSTRY, CA — Strouds Inc. has officially been bought by Strouds Acquisition Corp., a group which includes Strouds management and Cruttenden Partners.

"The brand-new company starts business today," Rob Valone, the president of the new company, said last Friday.

Valone stressed that Strouds Inc. is not re-emerging from bankruptcy or filing a plan of reorganization. Instead, Strouds Acquisition has purchased the remaining assets of Strouds, which include 50 full-line and outlet stores, two DCs, the corporate headquarters and the trademark names.

He confirmed that 15 people from the corporate offices were laid off early last week: "This was a necessary step to ensure the expense structure of the new company was appropriate."

Featured Video

Other Home Furnishings Sites

Casual Living
Furniture Today
Gifts and Decorative Accessories
Home Accents Today
Kids Today
HFN - Home Furnishings News