Linen 'n Things to file for Bankruptcy: Report
Linen 'n Things Inc., the home-furnishing retailer, is expected to file for Chapter 11 bankruptcy protection by Tuesday, according to a report.
The New Jersey-based retailer, is working to avoid or delay filing for bankruptcy by meeting Monday with its lenders and largest vendors to reach an agreement, the Wall Street Journal reported Friday.
The privately-held company, owned by Apollo Management LP, is in trouble due to increasing debt and a severe housing downturn.
It is competing against larger retailers such as Wal-Mart Stores, Target and specialty retailers such as Bed Bath & Beyond
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