Linens 'n Things Bundles Up Under Ch. 11 Blanket

Law360, New York (May 2, 2008, 12:00 AM EDT) -- Following weeks of rumors about its shaky finances, home furnishings chain Linens 'n Things filed for Chapter 11 protection on Friday, making it one of the largest retailers to do so in the current economic downturn.

The New Jersey-based company announced that it would close 120 of its 589 stores as a result of the filing in U.S. Bankruptcy Court for the District of Delaware but that the remaining stores would continue to operate as usual.

General Electric Capital Corp. has provided the company with $700...
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