While it had seemed almost certain that Linens 'n Things would declare bankruptcy this week, they've managed to put off paying the $16.1 million in interest owed to various creditors and bondholders. This doesn't mean the company is out of trouble, it just means they've bought some time to try and figure out a solution other than bankruptcy. It also means that for now, your gift cards are still valuable for purchasing linens, and well, things. Keep your ears and eyes open for any changes in the company's status, because there's not much going for them right now with the high level of debt they're carrying, consumers spending less, and poor performance.
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News Flash: Linens 'N Things Not Bankrupt Yet
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Is it bad, I was really hoping for an everything must go sale.
1LOL @ Bella...I was thinking the same thing..
I would really like to see them maybe downsize their stores and be more homey feeling. They aren't very big here, but I think they carry better products then BB&B.
2Oops! I guess I should use my LNT gift cards from my wedding!!
3I hope they don't close, i love that store.
4i'm torn! i love that store too and i don't want it to close, but man, a going out of business sale would be awesome.
5aww i hope everything works out.. i worked at a LNT back when i was in high school.
6oh crap and ive already started making plans on what i was goin to get for my new apartment. well am still going to keep my fingers crossed
7Most products are identical to those at B^3, and there's better service at B^3 too. LNT has a weird business policy. But really, economic downturn is affecting housewares in a big way, since mostly, they seem like extras.
8I need tons of new linens and things like that so a huge sale would be wonderful. Unfortunately, a lot of the times they don't do that they just sell stuff at 20% off and keep what is left. They're not going to close anyway since a lot of stores have gone through multiple bankruptcies and stayed open.
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