Strouds Seeks OK for Sale to IHome

Strouds Inc., a seller of bed and bath linens, asked a Bankruptcy Court in Delaware to approve its plan to sell 50 stores and most of its remaining assets to IHome Inc. for about $38 million. IHome, which sells linens and furniture via the Internet, agreed to buy all but six of Strouds’ stores, all of its trademarks and copyrights, two distribution centers and a Web site, Strouds said. Strouds filed for Chapter 11 bankruptcy protection in September after an internal restructuring failed to reverse losses from a decline in sales and increased spending. If approved, the sale will be completed in March. Shares of Industry-based Strouds closed unchanged at 2 cents in over-the-counter trading.