• 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

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!