Linen 'N Things Bankruptcy Converted To Ch. 7

Law360, New York (February 25, 2010, 3:06 PM EST) -- A federal judge has converted Linens 'N Things' bankruptcy proceedings to Chapter 7 liquidation based on the defunct retailer's concerns that it would not be able to collect enough cash to implement its confirmed Chapter 11 plan.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware on Wednesday approved the bankrupt home furnishing chain's motion to convert its nearly two-year-old case, a change scheduled to take effect at 5 p.m. Friday.

LNT has until then to turn over to the Chapter...
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