CLIFTON, N.J.–Linens ’n Things has hired DJM Realty to manage the disposition of 120 underperforming stores that the retailer targeted for closure as part of its restructuring. Linens filed for Chapter 11 in May.
The 120 leases are in Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, North Dakota, Nebraska, New Jersey, Nevada, New York, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia and Wisconsin.
“This is a great chance for retailers looking to expand their real estate,” said Hugh Scullin, senior vice president of real estate, store planning, construction and legal for Linens ’n Things, in a statement.
“The real estate locations are all in major markets which are difficult to enter. As with all Chapter 11 projects, the process moves fast and we are expecting an auction before July 31,” said Andy Graiser, co-president of DJM Realty, in the statement.
Linens ’n Things operated 589 stores in 47 states.