Linens 'N Things Files Ch. 11 Reorganization Plan

Law360, New York (September 2, 2008, 12:00 AM EDT) -- Less than four months after seeking Chapter 11 protection, home products retailer Linens 'N Things has filed a joint plan of reorganization that calls for closing nearly 200 stores and grants its creditors ownership of the company.

In a reorganization plan and disclosure statement filed Aug. 29 in the U.S. Bankruptcy Court for the District of Delaware, Linens Holding Co., the parent company of Linens 'N Things, laid out its plan to pay senior lenders in full and give them substantially all of the ownership of...
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