UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): October 18, 1996
Decorative Home Accents, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 33-96794 57-0998387
(State or Other (Commission (IRS Employer
Jurisdiction File Number) Identification No.)
of incorporation)
Industrial Park Drive, Abbeville, South Carolina 29620
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (864) 446-2123
Item 5. Other Events.
On October 18, 1996, the Registrant issued the news release
attached as Exhibit 99.1. The information contained in this news
release is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 News Release of Registrant dated October 18, 1996.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Dated: November 5, 1996
DECORATIVE HOME ACCENTS, INC.
By: /s/ JAY N. BAKER
-----------------------
Jay N. Baker
Chief Financial Officer
Exhibit Index
Sequential
Page
Exhibit # Item Number
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99.1 News Release 5
FOR IMMEDIATE RELEASE
Contact: M.L. "Chip" Fontenot
Chief Executive Officer
(212) 686-2080 x293
DECORATIVE HOME ACCENTS CONTINUES POST-ACQUISITION
INTEGRATION OF OPERATIONS
Abbeville, SC - October 18, 1996 - The Board of Directors of
Decorative Home Accents, Inc. announced today additional
consolidated and integration plans for its Home Innovations, Inc.
and The Rug Barn, Inc. Subsidiaries, furthering such efforts since
the merger of the two in July 1995.
Barbara and Harry Scharling, the founders of The Rug Barn, will no
longer be responsible for the day-to-day operations of the Company
and will resign from the Board of Directors as well as from their
positions as Executive Vice President and Chief Executive Officer,
respectively, effective today. The Scharlings will consult on new
product development and sourcing at The Rug Barn and continue their
equity ownership and financial interest in the Company.
M.L. "Chip" Fontenot, Chief Operating Officer of the Company and
Chief Executive Officer of Home Innovations, has been named as
Chief Executive Officer of Decorative Home Accents and will be
responsible for the overall management of The Rug Barn in addition
to his current duties. Richard Ennis, Vice President of Operations
of Decorative Home Accents, will assume manufacturing
responsibility at The Rug Barn, and Jay Baker, Executive Vice
President and Chief Financial Officer of Decorative Home Accents,
will report to Mr. Fontenot. A search is currently underway for a
president of The Rug Barn division.
These changes are part of an overall succession and integration
plan that began earlier in the year," said Mr. Fontenot. "Our
first task of consolidating Home Innovations into product-driven
business units under strong management has been completed. Barbara
and Harry Scharling were the inspiration that made The Rug Barn a
leading supplier to the gift trade. We know these organizational
changes, along with our many associates at The Rug Barn, will
enhance our ability to expand this leadership position and realize
the many opportunities available to us as a combined company."
Decorative Home Accents designs, manufactures and markets an
extensive line of decorative home accessories including soft
window, bedding and bath products and afghans, or "throws." The
Company is also exclusive master licensee of all Calvin Klein home
accessories marketed under the Calvin Klein Home Collection
trademark including bedding, sheets, towels, curtains, flatware,
glassware and home fragrances. The Company has its headquarters in
Abbeville, South Carolina and has operations in New York, North
Carolina and Illinois.
