Universal Capital Partners LLC will liquidate merchandise and conduct sales for Strouds Inc. stores in Escondido, Santa Monica and Irvine. At its peak, Stroud's, a specialty retailer of bed, bath, tabletop and other home textile products, operated as many as 68 retail outlets and employed more than 1,600 workers. The company filed for Chapter 11 bankruptcy protection last September.

"It's unfortunate when a retailer like Strouds, with a long and successful history spanning more than 20 years, has to close some of its stores," says Mike Catain, president/CEO of Universal Capital. "We're pleased, however, to have submitted the winning bid to assist them with these store closings."

"Our management team, with years of merchandising experience, has strong capabilities in valuing and liquidating inventory in a very cost-effective manner. We have a particular expertise with linen and home-fashion liquidations having conducted going out of business sales in the past for both Pacific Linen and 3D Bed and Bath."