Home Interiors & Gifts Files For Bankruptcy

Law360 (April 29, 2008, 12:00 AM EDT) -- Home decor company Home Interiors & Gifts Inc. has sought Chapter 11 protection in Dallas to streamline the company's operations and restructure its debt, a move made necessary by dwindling sales and ineffective cost-cutting measures.

Home Interiors — along with six affiliates — filed for bankruptcy Tuesday in the U.S. District Court for the Northern District of Texas. The Carrolton, Texas-based company listed assets and liabilities both in the $100 million to $500 million range on its Chapter 11 petition.

“The board of directors believes the Chapter 11 process is the most prudent course at this time to enable the company...

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