CLIFTON, N.J.–It’s the end for Linens ’n Things.
A consortium of private investors that includes Gordon Brothers Retail Partners, Hilco Merchant Services, Great American Group, SB Capital Group, Tiger Capital Group and Hudson Capital Partners will liquidate the chain.
The auction for Linens, with 371 stores, was scheduled today but “was called off,” a Linens’ spokeswoman told HFN. No other bidder stepped forward. Therefore, the stalking-horse bid by the aforementioned investors will be up for court approval tomorrow. In 2007, Linens generated $2.8 billion in sales.
A source at Linens said going-out-of-business sales could begin as early as Thursday.