Home Interiors and Gifts, the Dallas Based home good company that has had its fair share of financial troubles lately, has just been purchased by Home and Garden Party.
We had first reported about Home and Garden’s problems back in September when the company sent out a warning to employees.
Home and Garden Party, founded in 1996 in Marshall, Texas, has become a leader in the direct sales industry over the last decade. The company, founded by Penny and Steven Carlile purchased the assets of the U.S., Canadian and Puerto Rican assets of Home Interiors and Gifts last Thursday.
Carlile was pleased with the acquisition and the potential for success the joining of the two companies will have in the future. “Home Interiors has a storied history in the direct sales business for the past 51 years and has been a leader in this business for much of that time,” said Steve Carlile. “We’re very pleased to join forces with them going forward.”
Home Interiors was forced to file Chapter 11 to reorganize the company’s business and restructure its debt. Robin Crossman, the high profile CEO who was brought in last year to save the company released a statement regarding the announcement saying, “I am so proud of the Home Interiors field and the dedication they have to the heritage of Mary Crowley” (the company’s founder).
Penny and Steve Carlile issued a joint statement regarding the future of the two companies, “With all the necessary funds in reserve to complete the transaction, we can quickly and effectively assure the consultants of Home Interior that we’re committed to protecting the legacy of Mary Crowley and Home Interiors by building on the solid foundation that Home and Garden Party has enjoyed.”
The company will remain headquartered in Marshall. All parties involved hope that the acquisition will result in more jobs in the community in the coming months.
No word on what happens to the company’s status as part of the Direct Selling Association now that the company has been taken over.
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