No Takers For Linens 'N Things

Law360, New York (October 14, 2008, 12:00 AM EDT) -- Hoping to be taken over, Linens 'N Things has ditched its plans for a Tuesday auction after no bidders appeared to snatch up the beleaguered housewares retailer.

Linens 'N Things abandoned the auction plans on Monday night after no interested parties stepped forward to challenge a group of liquidators that had offered an estimated $475.5 million to wind the business down.

With no rival in sight, the joint venture of Gordon Brothers Retail Partners LLC, Great American Group LLC, Hillco Merchant Resources LLC, Hudson Capital Partners...
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