CYPRESS, CA -  Home Organizers, Inc., parent company of Closets by Design, Inc. and Closet World, Inc., says a Federal court in California granted its request to end a four-month Chapter 11 filing after the closets supply company replaced its lender.

Home Organizers, Inc. says it and its subsidiaries filed a voluntarily petition for reorganization under Chapter 11 bankruptcy March  after a lender called for full payment of a loan that had matured. Home Organizers says it was current in its payments and had substantially paid down its balance; and that its filing showed record sales and adequate operating funds.  

“This filing was never about us – it was something we needed to do to
protect the companies, their employees, and their vendors,” says Frank
Melkonian, CEO of Home Organizers, Inc. “We acted swiftly
and I’m very proud of
my management team for making certain that the filing had no impact on
our operations, vendor relationships, or customer service.”
Melkonian says Home Organizers is  paying 100 percent of payments due its creditor vendors. 

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