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) January 14, 1998

                             HOME HOLDINGS INC.

                 (Exact name of registrant as specified in its charter)

      Delaware                      0-19347                13-3584978
 (State of Incorporation)    (Commission file number)    (I.R.S. Employer 
                                                         Identification No.)

            59 Maiden Lane, New York, New York       10038-4548
          (Address or principal executive office)    (Zip Code)

           Registrant's telephone number including area code (212) 530-6600



               Item 5.  Other Events

                         The Registrant announced today that, pursuant
               to a resolution of its Board of Directors, it had filed
               today a voluntary petition for bankruptcy relief and a
               pre-arranged plan of reorganization (the "Plan") under
               Chapter 11 of the United States Bankruptcy Code in the
               United States Bankruptcy Court for the Southern District
               of New York (Case No. 98 B 40319 (JHG)).  The filing of 
               the Plan culminates several months of negotiations among 
               representatives of the Registrant's principal shareholders-- 
               Home Holdings Inc. Stock Trust, a trust for the shareholders 
               of Trygg-Hansa AB ("Trygg-Hansa") (through its subsidiary 
               Trygg-Hansa Holding B.V.) and Zurich Home Investments 
               Limited--and an unofficial committee of holders of the 
               Registrant's 7-7/8% Senior Notes due December 15, 2003, 
               7-7/8% Senior Sinking Fund Notes due December 15, 2003 and 
               7% Senior Notes due December 15, 1998 (the "Notes").

                         Under the Plan, the senior creditors of Home
               Holdings (including the holders of the Notes) would
               exchange their existing notes, in the aggregate principal
               amount of $280 million, for new notes having an estimated
               principal value of approximately $70 million and Earn Out
               Notes.  Zurich Centre Group would agree to commence a
               tender offer to purchase the new notes at a price equal
               to 99% of principal plus accrued interest within 60 days
               after the Plan becomes effective.  Payments on the Earn
               Out Notes would be based on savings related to the
               Registrant's net operating loss tax carryforwards.  In
               addition to the senior creditors, Trygg-Hansa would
               receive Earn Out Notes in exchange for certain junior
               notes issued by the Registrant to Trygg-Hansa, and The
               Home Insurance Company, a New Hampshire domiciled
               property and casualty insurance company and the principal
               wholly-owned subsidiary of Home Holdings ("Home
               Insurance"), would receive Earn Out Notes in exchange for
               a release of its claims against under a tax sharing
               agreement, dated February 13, 1991, by and between the
               Registrant and Home Insurance.

                         Also under the Plan, upon its emergence from
               Chapter 11, the Registrant would transfer all of the
               outstanding stock of Home Insurance to a New Hampshire
               limited liability company, which would be managed by a
               New Hampshire corporation jointly owned by Zurich Home
               Investments Limited and, subject to regulatory approval,
               Trygg-Hansa.  All of the beneficial interest in the
               limited liability company would be transferred to the
               senior creditors of Home Holdings, and Risk Enterprise
               Management Limited would continue to manage the run-off
               operations of Home Insurance.

                         The New Hampshire Insurance Commissioner, who
               made Home Insurance subject to an order of formal
               supervision in March, 1997, has consented to those
               aspects of the reorganization that are within the scope
               of his authority and pre-requisite to the reorganization.

                         In connection with the filing of the Plan, the
               Board of Directors of the Registrant voted on January 14,
               1998 to suspend its pending request that Home Insurance
               pay a dividend to the Registrant for the payment of
               $11,637,500.00 in interest that came due on December 15,
               1997 on the Notes.   Under the terms of the Notes, the
               Registrant has a 30-day grace period from December 15,
               1997 before an Event of Default under the Indentures
               relating to the Notes occurs.

               Item 7.  Financial Statements, Pro Forma Financial
               Information and Exhibits

                    (c)  Exhibits.

                         (99.1)    Press release issued on January 15,
                                   1998.


                    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.

                                            HOME HOLDINGS INC.

               Dated: January 15, 1998      By: /s/ Richard H. Hershman 
                                               __________________________
                                               Richard H. Hershman

                                            (Principal Financial and
                                            Accounting Officer through the
                                            Services Agreement, dated June
                                            12, 1995, between Risk
                                            Enterprise Management Limited, a
                                            Delaware corporation, and Home
                                            Insurance)
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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) January 14, 1998

                             HOME HOLDINGS INC.

                 (Exact name of registrant as specified in its charter)

      Delaware                      0-19347                13-3584978
 (State of Incorporation)    (Commission file number)    (I.R.S. Employer 
                                                         Identification No.)

            59 Maiden Lane, New York, New York       10038-4548
          (Address or principal executive office)    (Zip Code)

           Registrant's telephone number including area code (212) 530-6600

               Item 5.  Other Events

                         The Registrant announced today that, pursuant
               to a resolution of its Board of Directors, it had filed
               today a voluntary petition for bankruptcy relief and a
               pre-arranged plan of reorganization (the "Plan") under
               Chapter 11 of the United States Bankruptcy Code in the
               United States Bankruptcy Court for the Southern District
               of New York (Case No. 98 B 40319 (JHG)).  The filing of 
               the Plan culminates several months of negotiations among 
               representatives of the Registrant's principal shareholders-- 
               Home Holdings Inc. Stock Trust, a trust for the shareholders 
               of Trygg-Hansa AB ("Trygg-Hansa") (through its subsidiary 
               Trygg-Hansa Holding B.V.) and Zurich Home Investments 
               Limited--and an unofficial committee of holders of the 
               Registrant's 7-7/8% Senior Notes due December 15, 2003, 
               7-7/8% Senior Sinking Fund Notes due December 15, 2003 and 
               7% Senior Notes due December 15, 1998 (the "Notes").

                         Under the Plan, the senior creditors of Home
               Holdings (including the holders of the Notes) would
               exchange their existing notes, in the aggregate principal
               amount of $280 million, for new notes having an estimated
               principal value of approximately $70 million and Earn Out
               Notes.  Zurich Centre Group would agree to commence a
               tender offer to purchase the new notes at a price equal
               to 99% of principal plus accrued interest within 60 days
               after the Plan becomes effective.  Payments on the Earn
               Out Notes would be based on savings related to the
               Registrant's net operating loss tax carryforwards.  In
               addition to the senior creditors, Trygg-Hansa would
               receive Earn Out Notes in exchange for certain junior
               notes issued by the Registrant to Trygg-Hansa, and The
               Home Insurance Company, a New Hampshire domiciled
               property and casualty insurance company and the principal
               wholly-owned subsidiary of Home Holdings ("Home
               Insurance"), would receive Earn Out Notes in exchange for
               a release of its claims against under a tax sharing
               agreement, dated February 13, 1991, by and between the
               Registrant and Home Insurance.

                         Also under the Plan, upon its emergence from
               Chapter 11, the Registrant would transfer all of the
               outstanding stock of Home Insurance to a New Hampshire
               limited liability company, which would be managed by a
               New Hampshire corporation jointly owned by Zurich Home
               Investments Limited and, subject to regulatory approval,
               Trygg-Hansa.  All of the beneficial interest in the
               limited liability company would be transferred to the
               senior creditors of Home Holdings, and Risk Enterprise
               Management Limited would continue to manage the run-off
               operations of Home Insurance.

                         The New Hampshire Insurance Commissioner, who
               made Home Insurance subject to an order of formal
               supervision in March, 1997, has consented to those
               aspects of the reorganization that are within the scope
               of his authority and pre-requisite to the reorganization.

                         In connection with the filing of the Plan, the
               Board of Directors of the Registrant voted on January 14,
               1998 to suspend its pending request that Home Insurance
               pay a dividend to the Registrant for the payment of
               $11,637,500.00 in interest that came due on December 15,
               1997 on the Notes.   Under the terms of the Notes, the
               Registrant has a 30-day grace period from December 15,
               1997 before an Event of Default under the Indentures
               relating to the Notes occurs.

               Item 7.  Financial Statements, Pro Forma Financial
               Information and Exhibits

                    (c)  Exhibits.

                         (99.1)    Press release issued on January 15,
                                   1998.

                    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.

                                            HOME HOLDINGS INC.

               Dated: January 15, 1998      By: /s/ Richard H. Hershman 
                                               __________________________
                                               Richard H. Hershman

                                            (Principal Financial and
                                            Accounting Officer through the
                                            Services Agreement, dated June
                                            12, 1995, between Risk
                                            Enterprise Management Limited, a
                                            Delaware corporation, and Home
                                            Insurance)