Home Décor Products Inc., an online retailer and operator of nine e-commerce sites that sell housewares and home furnishings, has ceased operations.
“Their board voted last night to file for Chapter 7 and liquidate immediately,” says an online retailer who has received a copy of a letter Home Décor sent to vendors and suppliers.
Home Décor executives aren’t talking about any decision to liquidate or a bankruptcy filing. An executive reached late Friday says there will be more news Monday.
The company, which operates HomeClick.com, AbsoluteHome.com, Barbecues.com, PoolClick.com and other web stores, has shut down its corporate web site: HDPI.com. Home Décor Products, No. 143 in the Internet Retailer Top 500 Guide, has also posted a notice on HomeClick.com informing shoppers they can browse but not place orders. Other notices on AbsoluteHome.com and PoolClick.com, inform visitors the site is closed temporarily or for good.
One reason Home Décor shut its doors was because of excessive inventory costs, says the recipient of Home Decor`s letter. “Inventory was listed as the defining reason for their demise,” the source says. “Looks like they wanted to switch back to their roots of drop shipping but it was far too late.”
Home Décor, which is headquartered in Edison, NJ, was founded in 2000. The company posted 2007 web sales of $83.8 million in 2007.