Home Interiors To Sell Operating Units

Law360, New York (September 23, 2008, 12:00 AM EDT) -- Bankrupt home decor company Home Interiors & Gifts Inc. will seek court approval to sell its operating units, including some that did not file for bankruptcy, the company announced Monday.

Home Interiors' directors have decided that selling the company's assets in an open auction will yield the best possible return for its stakeholders, the company said.

“The board believes that an auction process that preserves the operating units' management teams will ensure the maximum stability among employees, vendors and customers during the sale process and will...
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