Linens-N-Things To Liquidate. Closing Sales Begin Friday
Posted on October 15, 2008
Bankrupt Linens-N-Things will soon be liquidating all their stores. Linens-N-Things store closing sales begin on Friday, October 17, at the remaining 371 stores in 48 states. Over $1 billion worth of name brand home furnishings will be sold at discounts up to 30%. Consumers will be able to get big on a large selection of merchandise including bed, bath and kitchen basics, household appliances, home accessories, store fixtures and furniture.
The store closing sale is being conducted by a joint venture group comprised of Hilco Merchant Resources, Gordon Brothers Group, Hudson Capital, SB Capital Group LLC, Great American Group LLC and Tiger/Nassi Group.
Michael Keefe, President and CEO, Hilco Merchant Resources, said in a statement, "Consumers will find great values on everything in the store. Many items will be discounted like never before. This sale comes at a perfect time for everyone to enjoy large savings on many of their holiday gift purchases. Consumers who arrive at the start of the sale will certainly have the best selection of products from which to choose. We don't expect this sale to last very long."
KRQE says the housing slowdown and consumer spending decline caused the first problems for Linens-N-Things but the credit crisis was the nail in the coffin.