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Linens 'N Things Outlines Ch. 11 Liquidation Plan

Law360 (December 8, 2008, 12:00 AM EST) -- Having failed to auction off its operations, bankrupt housewares retailer Linens ‘N Things has moved forward with plans to liquidate under Chapter 11 protection.

On Friday, Linens Holding Co. and associated debtors submitted a disclosure statement in U.S. Bankruptcy Court for the District of Delaware outlining the company’s plan to consolidate debtor entities into a single estate and to sell off assets and pay back creditors.

Under the Chapter 11 liquidation plan described in the disclosure statement, Linens ‘N Things would cancel all its remaining leases...
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