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Home Interiors files for bankruptcy protection
Home Interiors & Gifts Inc., which sells decorating accessories through home parties, has filed for bankruptcy protection and says it will restructure under a turnaround expert. The company said it filed Tuesday for Chapter 11 bankruptcy protection in Dallas but is remaining in business. The company said it expects to continue paying employees and 100,000 sales consultants with court approval. It hired a chief restructuring officer, Richard Lindenmuth. Its largest unsecured creditors include UPS Inc., owed $2 million, and FedEx Corp. and hotel operator Gaylord Entertainment Co., each owed $1.4 million. Parties related to Highland Capital Management LP own a majority of the company's stock and more than 75 percent of its secured debt, according to court filings.
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Edmunds.com's Santa Monica Office Space Wins Interior Design Award
The Southern California Chapter of the International Interior Design Association has announced that the winner of a Calibre 2008 Design award is Studios Architecture for its design of Edmunds.com’s headquarters in Santa Monica, California. Edmunds.com, the premier online resource for automotive information, contracted Studios Architecture for the design of an employee-friendly and productivity-enhancing work space for its 400 employees. Both a photo gallery and a video tour of the office space are available on Edmunds.com’s Web site. “We invested in this process to create a more effective working environment, and we selected an architect who shared that vision,” said Avi Steinlauf, President and Chief Operating Officer of Edmunds.com. “Edmunds realized – way ahead of the current curve – that business and architectural design should mix and that the result is a powerful creative factor in how a business can succeed and stay ahead of the competition,” noted Chris Mitchell, a Managing Principal at Studios Architecture. Interior Design magazine highlighted the office in its January 2007 issue, sharing that during the design process, Mitchell “played a quick word-association game: What are cars about? Sunset Boulevard, motion, being hip…This is L.A., baby.”
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