Linens 'n Things

1. Tax Authorities Knock Last-Minute LNT Plan Changes

Thursday, Feb 11, 2010

Objections are piling up against recent amendments to Linens 'n Things’ third amended reorganization plan, with state and other tax claim creditors saying changes to the confirmed plan will let the defunct retailer off the hook for tax liabilities.

2. Q&A With Morgan Lewis' Howard S. Beltzer

Tuesday, Jun 30, 2009

The Bankruptcy Abuse Prevention and Consumer Protection Act passed in 2005 includes a number of provisions that are quite burdensome and particularly hostile to retailers, says Howard S. Beltzer, co-chair of Morgan Lewis & Bockius LLP's firmwide restructuring group.

3. Judge Sends Northwest, Eon-Net To Mediation

Thursday, Jan 22, 2009

Despite protests from Northwest Airlines Inc., a federal judge has ordered the airline and a patent-holding company to resolve their infringement suit over an information processing methodology patent with a court-appointed mediator.

4. Goody's To Liquidate Months After Ch. 11 Emergence

Tuesday, Jan 06, 2009

Less than three months after emerging from Chapter 11, clothing retailer Goody's Family Clothing Inc. has become the first major retail casualty of 2009 as it plans to liquidate its remaining assets.

5. Giftware Retailer Lenox Group Files For Ch. 11

Monday, Nov 24, 2008

Another retailer fell victim to the global economic crisis when giftware and collectibles company Lenox Group Inc. filed for Chapter 11 bankruptcy protection, citing the impact of the credit squeeze and excessive debt levels incurred by a 2005 purchase of a subsidiary.

6. Mall Owner Faces ERISA Probe Amid Credit Strife

Thursday, Nov 13, 2008

As the country’s second-largest shopping mall owner, General Growth Properties Inc., ponders filing for bankruptcy protection, a plaintiffs firm has announced it is investigating whether the company violated the Employee Retirement Income Security Act.

7. Beleaguered Mall Owner Weighs Bankruptcy

Wednesday, Nov 12, 2008

As it comes dangerously close to defaulting on debt, the country’s second-largest shopping mall owner, General Growth Properties Inc., has revealed to investors that it is considering seeking bankruptcy protection.

8. HSBC Objects To Boscov's Sale Of Credit Card Deal

Thursday, Oct 23, 2008

A unit of banking conglomerate HSBC on Tuesday objected to bankrupt department store Boscov's Inc.'s bid to sell a credit card agreement to Regio BDS, a subsidiary of Philadelphia private equity investment firm Versa Capital Management.

9. Boscov's To Sell Assets To Versa Capital

Friday, Sep 19, 2008

Bankrupt department store chain Boscov's Inc. announced today that it will sell most of its assets to Versa Capital Management Inc., a Philadelphia-based private equity investment firm.

10. $250M Boscov's DIP Financing Approved

Friday, Sep 05, 2008

Bankrupt department store chain Boscov's Inc. has received final approval of a $250 million debtor-in-possession loan that the company says will allow it to continue its operations with an uninterrupted "merchandise flow" going into the holiday sales season.

11. Boscov's Announces 10 Store Closing Sales

Friday, Aug 15, 2008

The bankrupt department store chain Boscov's Inc. has announced store-closing sales at 10 of its 49 locations as part of its Chapter 11 restructuring plan.

12. Linens 'N Things Gets OK To Close 57 More Stores

Friday, Aug 15, 2008

Linens 'N Things got a green light to shutter 57 underperforming stores in addition to the ones it announced it would close when it filed for bankruptcy in May, pushing the number of stores the home products retailer will close up to 177.

13. Judge OKs $250M DIP Loan For Boscov's

Thursday, Aug 07, 2008

Boscov's Inc., the family-owned department store chain that filed for Chapter 11 on Monday, has secured approval of a $250 million debtor-in-possession loan provided by prepetition lender Bank of America NA.

14. Credit Crunch Drives Boscov's To Bankruptcy

Monday, Aug 04, 2008

Just a week after rumors of a bankruptcy filing hit the press, department store Boscov's Inc. has filed for Chapter 11, blaming current economic conditions and their effect on consumer spending.

15. Retailers Feel The Pain Of The Credit Crunch

Monday, Jul 28, 2008

Boscov's may soon file for Chapter 11 and become the latest casualty of the credit crunch — but it is unlikely to be the last. Experts predict that the wave of retail bankruptcies has yet to crest.

16. Linens 'N Things Asks For Some Slack In DIP Deal

Friday, Jul 18, 2008

Home products retailer Linens 'n Things has asked a bankruptcy judge to allow it to modify its $700 million debtor-in-possession financing agreement to avoid defaulting, blaming lower-than-expected sales for the change.

17. Steve & Barry's Looking To Liquidate: Report

Monday, Jul 14, 2008

Steve & Barry's LLC's Chapter 11 case is reportedly likely to end in liquidation, with Sears Holding Corp. and Gap Inc. among several retailers circling the bankrupt clothing chain and its celebrity-affiliated brands.

18. Steve & Barry's Files For Ch. 11

Wednesday, Jul 09, 2008

Clothing chain Steve & Barry's LLC filed for Chapter 11 protection on Wednesday, becoming the latest in a recent string of retail companies to seek bankruptcy protection.

19. Economic Woes Could Force Publishers Into Ch. 11

Friday, Jun 27, 2008

The economic slump that began in the housing sector continues to spread to other sectors of the U.S. economy. The news publishing industry might be next in line. Even some large newspapers are underperforming, and while they may not be likely candidates for bankruptcy cases, their struggles are emblematic of industry-wide distress, say David W. Dykhouse, Daniel A. Lowenthal and Brian P. Guiney of Patterson Belknap Webb & Tyler LLP.

20. Linens 'N Things Severance Plan Lacks Details: Trustee

Thursday, Jun 19, 2008

The U.S. trustee overseeing Linens 'n Things Inc.'s Chapter 11 proceedings has objected to the home products retailer's bid for approval of a severance plan, arguing that it lacks adequate details and that the debtors have not acknowledged relevant legal precedent on severance pay.