Friday
May 2, 2008
Linens ‘n Things files for bankruptcy protection
Linens ‘n Things has announced they are filing for bankruptcy protection. They expect to be able to continue to operate as normal, pay employee salaries, and stock new merchandise. They just have an issue of several hundred million dollars in debt that they need to take care of.
I’d expect store closures, of some level, are imminent and Linens ‘n Things are going to enter the Back to School season with a significant reduction in their number of stores. Where are people going to go for Nautia comforter sets and Yankee Candles? I guess they will have to cross the street to Bed, Bath, and Beyond.
