House of Fabrics Inc. Declares 2-1 Stock Split
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House of Fabrics Inc. declared a 2-for-1 stock split in the form of a 100% stock dividend to be paid April 30 to stockholders of record April 9.
The Sherman Oaks-based company, which operates the nation’s largest retail chain providing fabrics and sewing notions, currently has 5.73 million common shares outstanding.
House of Fabrics also is currently pursuing a hostile takeover of Fabricland Inc., a smaller fabrics retailer based in Portland, Ore. House of Fabrics has offered $13.50 a share, or $44 million total, for the company.
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