SavvySugar

Linens 'n Things Tricky Liquidation Tactics Exposed

SavvySugar — Wed, 26 Nov 2008 04:30:40 -0800

Going out of business sales usually make shoppers' ears perk up, yet a recent sort of exposé by Good Morning America suggests that we shouldn't trust that sticker prices are actual discounts from the originals. With camcorder in hand, the show strolled the aisles of a soon-to-be extinct Linens 'n Things and visited a going-out-of business Circuit City store. What they found was nothing to be excited about, at least in terms of dirt-cheap deals.

A liquidator's goal is to make money, and they do so by capitalizing on the excitement surrounding going-out-of business sales. Store clerks admitted that liquidators raise prices and then gradually discount. At a Circuit City store taken over by liquidators, Good Morning America found a Samsung HD TV for $1,799 only available from an opened box, while a still-in-business Circuit City was selling the same brand new TV for $1,599. Protect yourself as a consumer by shopping around and not assuming that a so-called discounted price is the best available. Check out the video below for more insight into tricky liquidation tactics.

Heads Up: Linens 'N Things Liquidations Could Start Today

SavvySugar — Thu, 16 Oct 2008 04:00:07 -0700

Last month it looked as if Linens 'n Things was doomed to go out of business, and when no bidders stepped up to keep some of the stores open the chain had no other choice but to admit its non-existent future.

According to The Wall Street Journal, the coalition of liquidators in charge of shutting down Linens 'n Things could start the going-out-of-business sales today. Whether they begin today, tomorrow, or next month, liquidation is inevitable and as with all of these situations there's no guarantee about what will be on the shelves. First come, first served - are you hoping to find some necessities or holiday items on sale?

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Linens 'N Things Holiday-Going-Out-of-Business Sales

SavvySugar — Thu, 18 Sep 2008 12:30:48 -0700

Linens 'n Things filed for Chapter 11 bankruptcy protection back in May 2008, and after enduring an unkind Summer it looks like the chain must finally face its fate. It's predicted that the company will liquidate just in time for the holidays. Bad times for Linens 'n Things, but if you've been needing a new coffee grinder or only have two wine glasses in tact from your original set of eight, consider holding off on your purchases for a couple more months.

According to The New York Post, the end of Linens 'n Things is near and there's a good chance that we'll see going-out-of-business clearances in November and December. The company's creditors are getting antsy to see a chainwide liquidation as they watch sales continuously slide and losses steepen. Linens 'n Things may start taking liquidation bids in a matter of weeks, so stay tuned to see if your local chain is headed out-of-business.

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Linens 'n Things Files For Bankruptcy, Try to Use Your Gift Cards

SavvySugar — Fri, 02 May 2008 15:15:09 -0700

The possibility of Linens 'n Things filing for Chapter 11 bankruptcy has been on our radar for two weeks. While they attempted to avoid this decision by postponing debt payments and searching for a buyer, they were unable to come up with another solution and today the company filed for Chapter 11 protection.

With its 500 US stores the company is second to Bed Bath & Beyond in terms of housewares chains, and according to the New York Times Linen's 'n Things plans to close 120 stores. The fate of your gift cards is up in the air, as federal law says Linens 'n Things isn't obligated to honor the cards since filing for Chapter 11 bankruptcy.

News Flash: Linens 'N Things Not Bankrupt Yet

SavvySugar — Thu, 17 Apr 2008 06:34:18 -0700

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.

Linens 'n Things to Go Bankrupt, Use Your Gift Cards

SavvySugar — Mon, 14 Apr 2008 04:07:22 -0700

According to The New York Times, Linens 'n Things is expected to file for bankruptcy protection this week and it could turn into a Chapter 11 bankruptcy due to the amount of debt involved. Chapter 11 entails the reorganization of a company's affairs and assets and is the most complicated type of bankruptcy.

Some of you received Sharper Image gift cards for the holidays and were unable to use them when the company filed Chapter 11 bankruptcy in February. While this practice is surely infuriating they're technically not doing anything wrong, as federal law says a company doesn't have to honor gift cards after they've filed for this type of bankruptcy. Linens 'n Things would likely follow suit in terms of gift cards, so you may want to use them while you know they're still good.

Linens 'n Things to Go Out of Business?

SavvySugar — Fri, 25 Jul 2008 04:04:52 -0700

The business forecast for Linens 'n Things looks like it could go from light showers to full-on torrential rain in the near future. After filing for Chapter 11 bankruptcy protection in May, the store's numbers have continually headed downhill to the point that some are speculating the chain will be forced to liquidate.

Linens 'n Things cut their advertising costs to the point of being almost non-existent and stocked merchandise has been inconsistent. Vendors are concerned the $100 million letter of credit the company has been using to keep items on its shelves won't be enough for the back-to-school rush. If sales numbers continue to disappoint and can't keep the company afloat, we may be seeing going out of business signs before too long.

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Circuit City Liquidation: It's On

SavvySugar — Mon, 19 Jan 2009 04:30:00 -0800

The road has come to an end for Circuit City. The electronics chain filed for bankruptcy in November of 2008 and is now facing the same fate as Linens 'n Things - liquidation. All merchandise must go in the remaining 567 stores, and unfortunately that means more than 30,000 will likely lose their jobs.

While you may skip to your nearest Circuit City, confident that you'll walk out with the best deal in the world, slow down your step and take a minute to really scope out the prices. When the chain closed some of its stores after it filed for bankruptcy, Good Morning America ran a piece about the liquidation tricks they discovered in one of the closing stores. The show served as an eye-opener to why consumers need to be price aware: They found a Samsung HD TV for $1,799 only available from an opened box, while a still-in-business Circuit City was selling the same brand new TV for $1,599.

If you're planning on venturing to a Circuit City liquidation sale, try and shop with a purpose and research prices before you step into a store.

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