Short On Cash, Linens ‘N Things May Resort To Ch. 7

Law360, New York (February 16, 2010, 3:13 PM EST) -- With creditors concerned that Linens 'N Things doesn’t have enough cash to implement its confirmed Chapter 11 plan, the bankrupt retailer may be forced to convert to a Chapter 7 liquidation unless creditors withdraw their objections to recent plan amendments.

In response to the slew of objections that piled up after LNT suggested modifying its confirmed Chapter 11 plan, the retailer filed a motion Friday in the U.S. Bankruptcy Court for the District of Delaware to convert the case to a Chapter 7 liquidation as a...
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