Linens-N-Things To Begin Liquidation This Week

NEW YORK (AP) -- Specialty retailer Linens-N-Things says it plans to begin liquidation sales at its stores as early as Thursday after failing to find a buyer that wanted to operate the company.

The company has approximately 371 stores remaining, including 10 in Colorado.

The chain filed for bankruptcy in May. In August, the company said it reached a plan of reorganization with the bankruptcy court.

But last week, officials announced they were scrapping the plan. Parent company Linens Holding Co. said it had decided to put the company up for sale at an auction today because of worsening conditions in the financial markets.

The auction was canceled when only one qualified bid was received -- from an investment group.

Linens-N-Things closed 120 stores earlier this year, four of them in Colorado.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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  • by Val Location: USA on Nov 13, 2008 at 10:31 PM
    It's not the managers or workers at LNT that "marked up" the prices. All of that stuff is all things the LIQUIDATORS did. Stop making it sound like LNT is the one in charge of it.
  • by The G-Citizen Location: Colo Springs, CO on Oct 27, 2008 at 04:47 AM
    Consumer Alert: Sale? I don't think so. Don't wast your time or money until Linens-N-Things actually drops their prices. Not mark up their product 20%-50% then have this so-called 10%-30% off liquidation sale. My wife and I saw first hand that they marked up Bedding, but they forgot to take off the old (lower price; $149 instead of $129)price tags or had placed the higher one over the lower one. We know all stores do this, especially closer to the holidays. But for them to call it a liquidation sale is misleading and should be illegal. Any lawyers out there. Shame, shame to the owners/managers. It's no wonder you're going out of business if this is your practice. The American consumer is happy to pay a decent price for a decent product. Let's keep America strong and ensure our retail sales are strong, do the right thing retailers. Think bulk sales and customer service, not scams and wet willies.
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