Linens-N-Things Sets Liquidation Sales

October 15, 2008  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on October 2008 After failing to find a buyer, Linens-N-Things will begin going-out-of-business sales Friday at its 371 remaining stores in 48 states.

An announcement by the coalition of liquidators that purchased the company’s assets said $1 billion of inventory will be sold at discounts of up to 30 percent. When it filed for bankruptcy in May, Linens-N-Things operated 589 stores.

Shedding 200 under-performing locations failed to attract a buyer to keep the nation’s second-largest seller of linens, housewares and home accessories in operation.