CLIFTON, N.J.–A Linens ’n Things spokesman said the chain’s fate will be determined on Oct. 14.
Within the next 24 hours, a stalking horse—or lead bidder—will file a motion to purchase Linens ’n Things with plans to liquidate the chain’s remaining 371 stores, Richard Tauberman, a spokesman from the retailer, told HFN. That bidder has not been identified.
However, there have been inquiries “from several [other] interested parties” to buy the bankrupt chain and run it as an ongoing business, the spokesman said.
An auction for the chain will take place on Oct. 14, which will determine who gets the retailer, and “there is a good chance that other bidders will emerge whose intention is to run Linens ’n Things as an ongoing business,” Tauberman said. “The final chapter has not been written.”
Linens filed for Chapter 11 in May.