Linens 'N Things Prepares For Fire Sale

Law360, New York (October 8, 2008, 12:00 AM EDT) -- Unable to complete a reorganization plan, bankrupt housewares retailer Linens 'N Things Inc. said that it planned to announce a stalking horse buyer for the company or a total liquidation by the end of the week.

In a motion filed Tuesday in U.S. Bankruptcy Court for the District of Delaware, Linens Holding Co., the retailer's parent company, said that a motion to approve the sale procedure will be held on Friday. The company filed its original proposed sale plan on Oct. 3.

Responding to media reports...
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