Jun. 10, 2003

Linen Retailer Strouds Holds Going-Out-of-Business Sale

Facing tough competition from national chains, regional linen retailer Strouds is going out of business. Strouds Acquisition Corp., based in the City of Industry, filed for Chapter 11 relief May 20 in U.S. Bankruptcy Court in Los Angeles. Strouds is liquidating its assets and will close its 47 stores within the next few months, the company's bankruptcy counsel, Marc Winthrop, says.