Sears eyes HomeLife sale

Article Abstract:

Sears is considering the sale of its underperforming HomeLife furniture store division or it could find a financial partner to help the division to expand. Salomon Smith Barney was invited to help the company formalize a process, which could take three to six months to finish. HomeLife President Joe Baron said that the parent company could effect a partnership deal with a retailer or a supplier or its may well divest the asset. HomeLife has not improved its profits, although it has attained double-digit sales gains and effective cost-reduction in 1997.

Comment:

Is considering sale of underperforming HomeLife furniture store division or it could find financial partner to help expand div

Asset sales & divestitures, Furniture & Furnishings Stores, Furniture and Home Furnishings Stores, Sears, Roebuck and Co., Homelife Realty Services Inc.

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Richloom jacquard mill ready

Article Abstract:

Richloom Fabrics Group of New York, will start operating its Berkshire Weaving jacquard mill in the fourth quarter of 1998. The company, a top converter and maker of bed and window coverings, decided to venture into the weaving operations in order to be able to compete more effectively with its rivals in the industry. Richloom's new jacquard mill, which will be operated initially in three shifts at an initial capacity of between $15 million to $20 million, will cater to the needs of the company's manufacturing units and to the motion furniture market.

Comment:

Will start operating its Berkshire Weaving jacquard mill in the 4th quarter of 1998

New capacity, new plant construction, Other Household Textile Product Mills, Upholstery Fabrics, Textiles, Upholstery, Richloom Fabrics Group

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